Key Points
- CFO Rebecca Clary sold 4,037 shares on April 15 at an average price of $79.85 to cover tax withholding on vested awards, reducing her stake by 3.37% to 115,741 shares (≈$9.24M).
- Amazon agreed to acquire Globalstar for about $11.57 billion, a transformational deal that leverages Globalstar’s spectrum and LEO satellites and has driven the stock to multi‑year highs amid reported commercial ties to Apple.
- The deal carries risks — multiple shareholder lawsuits challenging the price, mixed analyst ratings, and operational constraints like rocket launch bottlenecks could affect timing, negotiation outcomes, and long‑term execution.
Globalstar, Inc. (NASDAQ:GSAT - Get Free Report) CFO Rebecca Clary sold 4,037 shares of the company's stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $79.85, for a total transaction of $322,354.45. Following the completion of the sale, the chief financial officer owned 115,741 shares of the company's stock, valued at approximately $9,241,918.85. This trade represents a 3.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Rebecca Clary also recently made the following trade(s):
- On Wednesday, March 11th, Rebecca Clary sold 762 shares of Globalstar stock. The stock was sold at an average price of $57.31, for a total transaction of $43,670.22.
- On Tuesday, March 10th, Rebecca Clary sold 351 shares of Globalstar stock. The stock was sold at an average price of $55.38, for a total transaction of $19,438.38.
Globalstar Price Performance
Shares of NASDAQ:GSAT opened at $80.64 on Thursday. The company's fifty day moving average is $63.31 and its two-hundred day moving average is $59.14. The company has a market cap of $10.37 billion, a P/E ratio of -537.56, a price-to-earnings-growth ratio of 130.47 and a beta of 1.46. Globalstar, Inc. has a 12-month low of $17.24 and a 12-month high of $81.07. The company has a quick ratio of 2.37, a current ratio of 2.42 and a debt-to-equity ratio of 1.27.
Globalstar (NASDAQ:GSAT - Get Free Report) last released its earnings results on Friday, February 27th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.01 by ($0.12). The business had revenue of $71.96 million during the quarter, compared to analysts' expectations of $71.80 million. Globalstar had a negative net margin of 6.10% and a negative return on equity of 1.02%. The business's quarterly revenue was up 17.6% compared to the same quarter last year.
Wall Street Analysts Forecast Growth
GSAT has been the subject of a number of research analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Globalstar in a report on Monday, December 29th. Zacks Research upgraded Globalstar from a "strong sell" rating to a "hold" rating in a report on Wednesday, April 1st. Finally, Craig Hallum restated a "buy" rating and issued a $70.00 target price on shares of Globalstar in a report on Monday, March 2nd. Two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $69.00.
Get Our Latest Analysis on Globalstar
More Globalstar News
Here are the key news stories impacting Globalstar this week:
- Positive Sentiment: Acquisition by Amazon: Amazon agreed to buy Globalstar, positioning the company’s spectrum and satellites as key assets for Amazon Leo’s direct‑to‑device strategy — a transformational strategic exit that explains the rally. Amazon to buy Globalstar for $11.57B
- Positive Sentiment: Apple/iPhone linkage: Deal brings reported commercial ties to Apple (iPhone/Apple Watch emergency features), increasing the revenue and OEM‑partnership upside that acquirers value. Globalstar acquisition brings Apple iPhone bonus
- Positive Sentiment: Big market reaction / momentum: Heavy call‑option activity and headlines driving a surge to multi‑year highs — momentum that can lift price short‑term as arbitrage and retail flows react to the takeover premium.
- Neutral Sentiment: Analyst and deal commentary: Firms (e.g., Jefferies) frame the transaction as a long‑duration strategic bet that accelerates Amazon’s roadmap; useful context for longer‑term upside but execution and capital deployment remain Amazon’s responsibility. Jefferies: deal is long‑term strategic
- Neutral Sentiment: Operational caveat: Analysts note the deal doesn’t solve industry constraints like rocket launch bottlenecks — meaning spectrum/sat assets are valuable, but network scale and deployment timing remain risks. Deal won’t fix launch bottleneck
- Neutral Sentiment: Insider sale: CFO Rebecca Clary sold ~4,037 shares to cover tax withholding on vested awards; disclosed as routine tax‑related selling and not explicitly a vote of no confidence. SEC filing: Form 4
- Negative Sentiment: Shareholder litigation risk: Multiple law firms have opened investigations/class actions alleging the $90 cash or capped‑Amazon‑stock consideration may not be a fair price — potential for litigation, delays or negotiation pressure that could affect timing and deal certainty. Investor alert: Kahn Swick & Foti investigation
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new position in Globalstar in the 4th quarter valued at approximately $26,000. Meeder Asset Management Inc. acquired a new position in Globalstar in the 4th quarter valued at approximately $27,000. US Bancorp DE increased its stake in Globalstar by 610.7% in the 3rd quarter. US Bancorp DE now owns 931 shares of the company's stock valued at $34,000 after buying an additional 800 shares during the period. Fortitude Family Office LLC acquired a new position in Globalstar in the 3rd quarter valued at approximately $37,000. Finally, Advisory Services Network LLC acquired a new position in Globalstar in the 3rd quarter valued at approximately $40,000. Institutional investors and hedge funds own 18.89% of the company's stock.
Globalstar Company Profile
(
Get Free Report)
Globalstar, Inc is a leading provider of mobile satellite voice and data communications services. Through a network of low Earth orbit (LEO) satellites, the company delivers reliable satellite connectivity to users in remote or underserved regions where terrestrial networks are unavailable or unreliable. Its product portfolio includes satellite phones, two-way satellite data modems and Internet of Things (IoT) devices designed for tracking, monitoring and emergency notification.
Founded in 1991 as a joint venture between Loral and Qualcomm, Globalstar launched its first fleet of 48 satellites between 1998 and 2000.
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