Wall Street Zen Upgrades Globalstar (NASDAQ:GSAT) to Hold

Globalstar (NASDAQ:GSAT - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

Globalstar Stock Performance

Shares of GSAT opened at $19.90 on Friday. The stock has a market cap of $2.52 billion, a PE ratio of -27.26 and a beta of 0.86. Globalstar has a 1-year low of $15.00 and a 1-year high of $41.10.

Insider Activity

In related news, Director James Monroe III bought 50,000 shares of the business's stock in a transaction dated Friday, May 16th. The shares were purchased at an average price of $18.68 per share, with a total value of $934,000.00. Following the purchase, the director now owns 58,833,076 shares of the company's stock, valued at approximately $1,099,001,859.68. This trade represents a 0.09% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 60.76% of the company's stock.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Globalstar stock. Acadian Asset Management LLC purchased a new stake in shares of Globalstar, Inc. (NASDAQ:GSAT - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 4,777 shares of the company's stock, valued at approximately $99,000. 18.89% of the stock is owned by hedge funds and other institutional investors.

Globalstar Company Profile

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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