Globalstar (NYSE:GSAT) Stock Price Up 5.2%

Shares of Globalstar, Inc. (NYSE:GSAT) rose 5.2% during mid-day trading on Thursday . The company traded as high as $1.32 and last traded at $1.31. Approximately 5,007,666 shares traded hands during mid-day trading, an increase of 9% from the average daily volume of 4,614,116 shares. The stock had previously closed at $1.24.

Globalstar Stock Up 5.6 %

The firm has a market cap of $2.49 billion, a PE ratio of -65.50 and a beta of 0.90. The company has a current ratio of 1.00, a quick ratio of 0.90 and a debt-to-equity ratio of 0.97. The firm has a 50 day moving average price of $1.25 and a 200-day moving average price of $1.18.

Globalstar (NYSE:GSAT) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). The business had revenue of $60.39 million for the quarter, compared to analyst estimates of $57.49 million. Globalstar had a negative net margin of 19.14% and a negative return on equity of 11.66%. Research analysts forecast that Globalstar, Inc. will post -0.02 EPS for the current fiscal year.

Insider Buying and Selling at Globalstar

In related news, Director James Monroe III purchased 4,510,855 shares of Globalstar stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average cost of $1.06 per share, with a total value of $4,781,506.30. Following the completion of the transaction, the director now directly owns 8,708,254 shares in the company, valued at $9,230,749.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 61.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Globalstar

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Globalstar by 3.7% during the fourth quarter. Vanguard Group Inc. now owns 71,739,532 shares of the company’s stock worth $139,175,000 after acquiring an additional 2,547,398 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Globalstar by 8.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 697,461 shares of the company’s stock worth $1,026,000 after purchasing an additional 55,368 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Globalstar by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,646,468 shares of the company’s stock worth $10,954,000 after buying an additional 213,489 shares during the last quarter. Wolf Hill Capital Management LP purchased a new stake in shares of Globalstar in the fourth quarter valued at about $4,324,000. Finally, New York State Common Retirement Fund grew its holdings in Globalstar by 10.1% during the 4th quarter. New York State Common Retirement Fund now owns 246,519 shares of the company’s stock valued at $478,000 after buying an additional 22,624 shares during the last quarter. 18.89% of the stock is owned by hedge funds and other 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.