Globalstar, Inc. (NYSEAMERICAN:GSAT) saw a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 68,214,655 shares, a decrease of 0.6% from the January 12th total of 68,623,538 shares. Approximately 11.2% of the shares of the company are short sold. Based on an average daily trading volume, of 2,430,007 shares, the days-to-cover ratio is currently 28.1 days.

Shares of Globalstar (NYSEAMERICAN GSAT) opened at $0.88 on Monday. Globalstar has a 52-week low of $0.86 and a 52-week high of $2.59. The company has a market capitalization of $1,010.00, a P/E ratio of -5.15 and a beta of 1.54.

Separately, TheStreet downgraded shares of Globalstar from a “c-” rating to a “d+” rating in a report on Friday, February 2nd.

In related news, CEO James Monroe III sold 38,000,000 shares of the stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $1.16, for a total value of $44,080,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

A number of institutional investors have recently added to or reduced their stakes in the business. American International Group Inc. boosted its position in Globalstar by 28.8% in the 4th quarter. American International Group Inc. now owns 383,484 shares of the Wireless communications provider’s stock worth $502,000 after purchasing an additional 85,652 shares in the last quarter. BlackRock Inc. boosted its position in Globalstar by 17.2% in the 4th quarter. BlackRock Inc. now owns 42,666,783 shares of the Wireless communications provider’s stock worth $55,894,000 after purchasing an additional 6,272,280 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Globalstar by 7.7% in the 4th quarter. Bank of New York Mellon Corp now owns 3,179,733 shares of the Wireless communications provider’s stock worth $4,165,000 after purchasing an additional 228,453 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Globalstar by 22.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 458,894 shares of the Wireless communications provider’s stock worth $601,000 after purchasing an additional 84,031 shares in the last quarter. Finally, Swiss National Bank boosted its position in Globalstar by 12.2% in the 4th quarter. Swiss National Bank now owns 917,554 shares of the Wireless communications provider’s stock worth $1,202,000 after purchasing an additional 100,000 shares in the last quarter.

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About Globalstar

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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