Globalstar, Inc. (NASDAQ:GSAT - Get Free Report) Director Benjamin Wolff sold 19,998 shares of Globalstar stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $81.98, for a total transaction of $1,639,436.04. Following the completion of the transaction, the director directly owned 4,116 shares of the company's stock, valued at $337,429.68. The trade was a 82.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Globalstar Trading Down 0.4%
Shares of Globalstar stock opened at $81.76 on Friday. The firm has a 50-day simple moving average of $81.14 and a two-hundred day simple moving average of $75.46. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.51 and a current ratio of 1.55. Globalstar, Inc. has a fifty-two week low of $28.15 and a fifty-two week high of $84.85. The company has a market cap of $10.59 billion, a P/E ratio of -160.31 and a beta of 1.58.
Globalstar (NASDAQ:GSAT - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.23) EPS for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.14). Globalstar had a negative net margin of 22.25% and a negative return on equity of 16.66%. The business had revenue of $64.77 million for the quarter. The business's revenue was down 3.5% compared to the same quarter last year. As a group, equities analysts predict that Globalstar, Inc. will post -0.62 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several analysts have commented on GSAT shares. Wall Street Zen raised Globalstar to a "sell" rating in a report on Saturday, August 8th. Clear Str lowered Globalstar from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 15th. Craig Hallum cut shares of Globalstar from a "buy" rating to a "hold" rating and set a $90.00 price target on the stock. in a research note on Tuesday, August 18th. Zacks Research lowered shares of Globalstar from a "hold" rating to a "strong sell" rating in a report on Friday, August 14th. Finally, Weiss Ratings upgraded shares of Globalstar from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, June 5th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $75.67.
Read Our Latest Stock Analysis on Globalstar
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the business. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new position in shares of Globalstar during the 4th quarter worth approximately $26,000. Meeder Asset Management Inc. purchased a new stake in shares of Globalstar in the fourth quarter valued at approximately $27,000. Optiver Holding B.V. acquired a new stake in shares of Globalstar in the first quarter valued at approximately $32,000. US Bancorp DE increased its holdings in shares of Globalstar by 610.7% in the third quarter. US Bancorp DE now owns 931 shares of the company's stock valued at $34,000 after purchasing an additional 800 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in Globalstar during the third quarter worth approximately $40,000. 18.89% of the stock is owned by hedge funds and other institutional investors.
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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