Short Interest in Globalstar, Inc. (NYSEAMERICAN:GSAT) Decreases By 6.9%

Globalstar, Inc. (NYSEAMERICAN:GSAT - Get Free Report) was the target of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 27,170,000 shares, a drop of 6.9% from the March 31st total of 29,180,000 shares. Currently, 3.6% of the company's stock are sold short. Based on an average daily trading volume, of 3,920,000 shares, the days-to-cover ratio is currently 6.9 days.

Globalstar Stock Performance

Shares of NYSEAMERICAN:GSAT remained flat at $1.29 during mid-day trading on Wednesday. The company had a trading volume of 2,533,638 shares, compared to its average volume of 4,109,007. The stock has a market cap of $2.32 billion, a P/E ratio of -11.73 and a beta of 0.53. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 0.97. Globalstar has a 1-year low of $0.85 and a 1-year high of $2.13.

Globalstar (NYSEAMERICAN:GSAT - Get Free Report) last announced its earnings results on Wednesday, February 28th. The company reported ($0.01) EPS for the quarter. The company had revenue of $52.41 million for the quarter, compared to analysts' expectations of $53.06 million. Globalstar had a negative net margin of 112.72% and a negative return on equity of 76.89%. Analysts predict that Globalstar will post -0.01 earnings per share for the current year.

Institutional Investors Weigh In On Globalstar

An institutional investor recently raised its position in Globalstar stock. SG Americas Securities LLC boosted its holdings in shares of Globalstar, Inc. (NYSEAMERICAN:GSAT - Free Report) by 135.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,801 shares of the company's stock after purchasing an additional 16,587 shares during the quarter. SG Americas Securities LLC's holdings in Globalstar were worth $38,000 at the end of the most recent quarter. Institutional investors and hedge funds own 17.15% of the company's stock.

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.

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