Globalstar (GSAT) Stock Price Up 5.9%
Globalstar, Inc. (NYSEAMERICAN:GSAT) rose 5.9% on Wednesday . The company traded as high as $1.28 and last traded at $1.25. Approximately 4,818,898 shares traded hands during mid-day trading, a decline of 9% from the average daily volume of 5,272,933 shares. The stock had previously closed at $1.18.
Several equities research analysts recently commented on the stock. BidaskClub downgraded shares of Globalstar from a “sell” rating to a “strong sell” rating in a research report on Saturday, September 9th. TheStreet upgraded shares of Globalstar from a “d” rating to a “c-” rating in a research report on Monday, November 13th.
Globalstar (NYSEAMERICAN:GSAT) last posted its earnings results on Thursday, November 2nd. The Wireless communications provider reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.06. Globalstar had a net margin of 172.06% and a return on equity of 145.71%. The business had revenue of $30.46 million for the quarter.
In other Globalstar news, CEO James Monroe III sold 38,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $1.16, for a total transaction of $44,080,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
A hedge fund recently raised its stake in Globalstar stock. Private Advisor Group LLC increased its stake in Globalstar, Inc. (NYSEAMERICAN:GSAT) by 650.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,000 shares of the Wireless communications provider’s stock after acquiring an additional 65,000 shares during the quarter. Private Advisor Group LLC’s holdings in Globalstar were worth $122,000 at the end of the most recent reporting period.
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Globalstar, Inc (Globalstar) provides mobile satellite services (MSS), including voice and data communications services globally through satellite. The Company provides wireless communications services in areas not served or underserved by terrestrial wireless and wireline networks and in circumstances where terrestrial networks are not operational due to natural or man-made disasters.
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