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

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

Globalstar Stock Down 1.5%

NASDAQ:GSAT opened at $23.48 on Monday. The company has a market cap of $2.97 billion, a price-to-earnings ratio of -32.17 and a beta of 0.86. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.19 and a current ratio of 2.27. Globalstar has a 52 week low of $15.00 and a 52 week high of $41.10.

Insider Buying and Selling

In other Globalstar news, Director James Monroe III purchased 50,000 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was acquired at an average cost of $18.68 per share, with a total value of $934,000.00. Following the acquisition, the director now owns 58,833,076 shares of the company's stock, valued at approximately $1,099,001,859.68. This represents a 0.09% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 60.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Globalstar

A hedge fund recently bought a new stake in Globalstar stock. Acadian Asset Management LLC bought a new stake in shares of Globalstar, Inc. (NASDAQ:GSAT - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,777 shares of the company's stock, valued at approximately $99,000. 18.89% of the stock is owned by institutional investors and hedge funds.

About Globalstar

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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