Globalstar (NYSE:GSAT) Trading Down 6.5%

Globalstar, Inc. (NYSE:GSAT - Get Free Report) shares traded down 6.5% during mid-day trading on Monday . The company traded as low as $1.37 and last traded at $1.38. 1,401,246 shares were traded during trading, a decline of 69% from the average session volume of 4,547,471 shares. The stock had previously closed at $1.47.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Globalstar from a "hold" rating to a "sell" rating in a report on Thursday, February 29th.

Globalstar Stock Performance

The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.73 and a current ratio of 0.81. The business's fifty day simple moving average is $1.42 and its 200-day simple moving average is $1.64. The firm has a market capitalization of $2.57 billion, a PE ratio of -135.00 and a beta of 0.84.

Globalstar (NYSE:GSAT - Get Free Report) last posted its earnings results on Wednesday, February 28th. The company reported ($0.01) EPS for the quarter. The firm had revenue of $52.41 million for the quarter, compared to the consensus estimate of $53.06 million. Globalstar had a negative net margin of 14.61% and a negative return on equity of 6.43%. As a group, equities research analysts expect that Globalstar, Inc. will post -0.02 EPS for the current year.

Insider Activity

In other news, Director James F. Lynch bought 660,000 shares of the stock in a transaction dated Wednesday, March 13th. The stock was purchased at an average cost of $1.46 per share, for a total transaction of $963,600.00. Following the transaction, the director now owns 12,340,720 shares of the company's stock, valued at $18,017,451.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In the last ninety days, insiders bought 1,980,000 shares of company stock worth $2,765,400. 62.00% of the stock is currently owned by insiders.

Institutional Trading of Globalstar

Institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC bought a new stake in Globalstar in the third quarter worth $25,000. Abel Hall LLC bought a new stake in Globalstar in the fourth quarter worth $26,000. Baird Financial Group Inc. bought a new stake in Globalstar in the fourth quarter worth $29,000. Panagora Asset Management Inc. bought a new stake in Globalstar in the fourth quarter worth $35,000. Finally, Jump Financial LLC bought a new stake in shares of Globalstar during the third quarter worth $39,000. 18.89% of the stock is currently owned by institutional investors.

Globalstar Company Profile

Globalstar, Inc provides mobile satellite services in the United States, Canada, Europe, Central and South America, and internationally. The company offers duplex two-way voice and data products, including mobile voice and data satellite communications services and equipment for remote business continuity, recreational usage, safety, emergency preparedness and response, and other applications.