Globalstar (NYSEAMERICAN:GSAT) Shares Up 3.3% – Still a Buy?

Globalstar, Inc. (NYSEAMERICAN:GSAT)’s stock price was up 3.3% during trading on Friday . The company traded as high as $2.23 and last traded at $2.20. Approximately 16,637,037 shares changed hands during trading, an increase of 105% from the average daily volume of 8,111,224 shares. The stock had previously closed at $2.13.

Analysts Set New Price Targets

Separately, Craig Hallum raised their price target on Globalstar from $4.00 to $5.00 and gave the company a “buy” rating in a report on Monday, November 4th.

Globalstar Trading Up 0.9 %

The company has a market cap of $4.09 billion, a P/E ratio of -71.67 and a beta of 0.88. The business has a 50 day moving average price of $1.25 and a 200-day moving average price of $1.24. The company has a current ratio of 1.04, a quick ratio of 0.95 and a debt-to-equity ratio of 0.94.

Institutional Investors Weigh In On Globalstar

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. PFG Investments LLC lifted its position in Globalstar by 83.3% in the 2nd quarter. PFG Investments LLC now owns 22,000 shares of the company’s stock valued at $25,000 after acquiring an additional 10,000 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in shares of Globalstar during the 3rd quarter worth $27,000. XTX Topco Ltd purchased a new position in Globalstar in the 2nd quarter worth $31,000. Panagora Asset Management Inc. bought a new stake in Globalstar in the second quarter valued at approximately $35,000. Finally, Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of Globalstar in the third quarter worth about $39,000. 18.89% of the stock is owned by institutional investors.

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.