Globalstar (NYSE:GSAT) Price Target Raised to $5.00 at Craig Hallum

Globalstar (NYSE:GSAT) had its target price upped by Craig Hallum from $4.00 to $5.00 in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Globalstar Price Performance

Shares of GSAT traded up $0.36 during mid-day trading on Monday, reaching $1.74. 85,043,505 shares of the company’s stock traded hands, compared to its average volume of 5,352,076. The stock has a market capitalization of $3.30 billion, a PE ratio of -59.00 and a beta of 0.88. The firm’s 50-day moving average is $1.16. Globalstar has a 12 month low of $1.00 and a 12 month high of $2.13. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.95 and a current ratio of 1.04.

Globalstar (NYSE:GSAT) last released its earnings results on Thursday, August 8th. The company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). The firm had revenue of $60.39 million for the quarter, compared to analysts’ expectations of $57.49 million. Globalstar had a negative return on equity of 13.69% and a negative net margin of 22.96%. Research analysts predict that Globalstar will post -0.02 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Rebecca Clary sold 75,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $1.25, for a total value of $93,750.00. Following the transaction, the chief financial officer now owns 1,418,745 shares of the company’s stock, valued at $1,773,431.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Rebecca Clary sold 75,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $1.25, for a total value of $93,750.00. Following the transaction, the chief financial officer now owns 1,418,745 shares of the company’s stock, valued at $1,773,431.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Timothy Evan Taylor sold 395,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $1.22, for a total value of $481,900.00. Following the completion of the transaction, the vice president now directly owns 10,278,649 shares in the company, valued at approximately $12,539,951.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 61.00% of the stock is owned by insiders.

Institutional Trading of Globalstar

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. PFG Investments LLC lifted its holdings in shares of Globalstar by 83.3% during the 2nd quarter. PFG Investments LLC now owns 22,000 shares of the company’s stock valued at $25,000 after purchasing an additional 10,000 shares during the last quarter. Empowered Funds LLC purchased a new stake in shares of Globalstar during the 1st quarter valued at $26,000. CWA Asset Management Group LLC purchased a new stake in shares of Globalstar during the 3rd quarter valued at $27,000. XTX Topco Ltd purchased a new stake in shares of Globalstar during the 2nd quarter valued at $31,000. Finally, Second Line Capital LLC purchased a new stake in shares of Globalstar during the 1st quarter valued at $34,000. Institutional investors own 18.89% of the company’s stock.

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.