Wall Street Zen upgraded shares of Globalstar (NASDAQ:GSAT - Free Report) from a sell rating to a hold rating in a report published on Saturday morning.
Globalstar Stock Performance
Shares of NASDAQ:GSAT traded up $0.61 during trading hours on Friday, hitting $21.80. The company's stock had a trading volume of 857,327 shares, compared to its average volume of 773,655. Globalstar has a 52 week low of $15.00 and a 52 week high of $41.10. The firm has a market cap of $2.76 billion, a P/E ratio of -29.86 and a beta of 0.86.
Insider Buying and Selling
In other news, Director James Monroe III acquired 50,000 shares of Globalstar stock in a transaction that occurred on Friday, May 16th. The stock was purchased at an average price of $18.68 per share, for a total transaction of $934,000.00. Following the purchase, 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 61.00% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
An institutional investor recently bought a new position in Globalstar stock. Acadian Asset Management LLC acquired a new position in shares of Globalstar, Inc. (NASDAQ:GSAT - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,777 shares of the company's stock, valued at approximately $99,000. Institutional investors own 18.89% of the company's stock.
Globalstar Company Profile
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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.
See Also
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