Globalstar, Inc. (NYSEARCA:GSAT) CEO Sells $31,840.41 in Stock

Globalstar, Inc. (NYSEARCA:GSAT) CEO Paul E. Jacobs sold 14,539 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $2.19, for a total transaction of $31,840.41. Following the transaction, the chief executive officer now owns 84,815 shares of the company’s stock, valued at approximately $185,744.85. The trade was a 14.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Globalstar Stock Performance

GSAT opened at $2.14 on Wednesday. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of -71.33 and a beta of 0.88. Globalstar, Inc. has a fifty-two week low of $1.00 and a fifty-two week high of $2.74. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.95 and a current ratio of 1.04. The firm’s 50-day moving average is $2.06.

Institutional Investors Weigh In On Globalstar

Institutional investors have recently added to or reduced their stakes in the business. PFG Investments LLC lifted its holdings in shares of Globalstar by 83.3% in the second quarter. PFG Investments LLC now owns 22,000 shares of the company’s stock worth $25,000 after buying an additional 10,000 shares in the last quarter. Inspire Investing LLC lifted its holdings in shares of Globalstar by 4.7% in the third quarter. Inspire Investing LLC now owns 333,479 shares of the company’s stock worth $414,000 after buying an additional 14,862 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Globalstar by 57.6% in the third quarter. Thrivent Financial for Lutherans now owns 54,561 shares of the company’s stock worth $68,000 after buying an additional 19,946 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Globalstar by 12.9% in the second quarter. Renaissance Technologies LLC now owns 176,629 shares of the company’s stock worth $198,000 after buying an additional 20,200 shares in the last quarter. Finally, CWA Asset Management Group LLC purchased a new stake in shares of Globalstar in the third quarter worth about $27,000. 18.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GSAT. Craig Hallum increased their price target on shares of Globalstar from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Monday, November 4th. StockNews.com upgraded shares of Globalstar from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

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.