Globalstar, Inc. (NASDAQ:GSAT - Get Free Report) CEO Paul Jacobs sold 53,479 shares of the business's stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $34.95, for a total transaction of $1,869,091.05. Following the sale, the chief executive officer directly owned 58,895 shares in the company, valued at approximately $2,058,380.25. This represents a 47.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Globalstar Price Performance
NASDAQ:GSAT traded down $1.07 during trading hours on Thursday, hitting $34.65. 804,717 shares of the company were exchanged, compared to its average volume of 811,105. The stock has a market cap of $4.39 billion, a PE ratio of -77.00 and a beta of 1.01. Globalstar, Inc. has a 52-week low of $15.00 and a 52-week high of $41.10. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.81 and a quick ratio of 2.72. The company's 50 day moving average is $28.68.
Globalstar (NASDAQ:GSAT - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.22. Globalstar had a negative net margin of 17.80% and a negative return on equity of 1.17%. Globalstar has set its FY 2025 guidance at EPS.
Wall Street Analysts Forecast Growth
Several analysts have commented on the stock. Wall Street Zen upgraded shares of Globalstar from a "sell" rating to a "hold" rating in a research note on Monday, June 23rd. Zacks Research upgraded shares of Globalstar to a "strong-buy" rating in a research note on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, Globalstar presently has an average rating of "Strong Buy".
Check Out Our Latest Analysis on GSAT
Hedge Funds Weigh In On Globalstar
Several large investors have recently made changes to their positions in GSAT. MRP Capital Investments LLC acquired a new position in shares of Globalstar in the 2nd quarter valued at $64,000. Osaic Holdings Inc. lifted its stake in shares of Globalstar by 640.4% in the 2nd quarter. Osaic Holdings Inc. now owns 3,302 shares of the company's stock valued at $78,000 after purchasing an additional 2,856 shares during the period. State of Wyoming lifted its stake in shares of Globalstar by 82.3% in the 2nd quarter. State of Wyoming now owns 3,963 shares of the company's stock valued at $93,000 after purchasing an additional 1,789 shares during the period. Acadian Asset Management LLC purchased a new stake in Globalstar in the 1st quarter worth $99,000. Finally, BNP Paribas Financial Markets increased its holdings in Globalstar by 80.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 5,212 shares of the company's stock worth $123,000 after acquiring an additional 2,331 shares in the last quarter. 18.89% of the stock is currently owned by institutional investors and hedge funds.
About Globalstar
(
Get Free Report)
Globalstar, Inc provides mobile satellite services worldwide. 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; fixed voice and data satellite communications services and equipment at industrial, commercial, and residential sites, as well as rural villages and ships; and data modem services and equipment.
Further Reading
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