Globalstar (NASDAQ:GSAT - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Friday.
Globalstar Stock Performance
Shares of GSAT stock traded down $0.30 during trading hours on Friday, hitting $18.41. The company had a trading volume of 652,092 shares, compared to its average volume of 777,475. The firm has a market cap of $2.33 billion, a P/E ratio of -25.22 and a beta of 0.87. Globalstar has a fifty-two week low of $15.00 and a fifty-two week high of $41.10.
Insiders Place Their Bets
In other news, Director James Monroe III bought 50,000 shares of the company's stock in a transaction on Friday, May 16th. The stock was bought at an average cost of $18.68 per share, with a total value of $934,000.00. Following the transaction, the director now directly owns 58,833,076 shares in the company, valued at $1,099,001,859.68. The trade was a 0.09% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 61.00% of the stock is owned by insiders.
Institutional Trading of Globalstar
An institutional investor recently bought a new position in Globalstar stock. Acadian Asset Management LLC acquired a new stake in Globalstar, Inc. (NASDAQ:GSAT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,777 shares of the company's stock, valued at approximately $99,000. Hedge funds and other institutional investors own 18.89% of the company's stock.
Globalstar Company Profile
(
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.
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