Globalstar, Inc. (NYSEARCA:GSAT) General Counsel Sells 488 Shares

Globalstar, Inc. (NYSEARCA:GSAT) General Counsel L Barbee Iv Ponder sold 488 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $21.71, for a total value of $10,594.48. Following the completion of the transaction, the general counsel now owns 145,120 shares in the company, valued at $3,150,555.20. The trade was a 0.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Globalstar Trading Up 2.1 %

GSAT traded up $0.46 during midday trading on Tuesday, hitting $22.19. 591,894 shares of the company were exchanged, compared to its average volume of 665,449. Globalstar, Inc. has a 1-year low of $15.00 and a 1-year high of $41.10. The stock has a market cap of $42.03 billion, a price-to-earnings ratio of -739.67 and a beta of 1.07. The business has a 50 day moving average of $9.89. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.91.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GSAT shares. Morgan Stanley boosted their price target on Globalstar from $14.85 to $25.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 26th. B. Riley increased their price target on shares of Globalstar from $4.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Craig Hallum decreased their price objective on shares of Globalstar from $75.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, StockNews.com raised shares of Globalstar from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

Hedge Funds Weigh In On Globalstar

A number of institutional investors and hedge funds have recently bought and sold shares of the business. PFG Investments LLC acquired a new position in Globalstar in the fourth quarter valued at approximately $25,000. CWA Asset Management Group LLC acquired a new stake in shares of Globalstar during the 3rd quarter valued at approximately $27,000. IRON Financial LLC purchased a new stake in shares of Globalstar in the 4th quarter worth about $29,000. Mariner LLC grew its holdings in Globalstar by 30.9% during the 4th quarter. Mariner LLC now owns 14,007 shares of the company’s stock valued at $29,000 after buying an additional 3,307 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Globalstar in the 4th quarter worth approximately $33,000. 18.89% of the stock is currently owned by institutional investors and hedge funds.

Globalstar Company Profile

Globalstar, Inc provides mobile satellite services in the United States, Canada, Europe, Central and South America, and internationally. 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.