Globalstar, Inc. $GSAT Shares Sold by Anson Funds Management LP

Anson Funds Management LP cut its stake in shares of Globalstar, Inc. (NASDAQ:GSAT) by 98.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 133,331 shares of the company’s stock after selling 7,558,229 shares during the period. Anson Funds Management LP’s holdings in Globalstar were worth $2,781,000 as of its most recent SEC filing.

Separately, Acadian Asset Management LLC acquired a new stake in Globalstar in the first quarter valued at approximately $99,000. Hedge funds and other institutional investors own 18.89% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GSAT. Zacks Research raised shares of Globalstar to a “strong-buy” rating in a research report on Monday, August 11th. Wall Street Zen raised shares of Globalstar from a “sell” rating to a “hold” rating in a research report on Monday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, Globalstar presently has a consensus rating of “Strong Buy”.

Globalstar Stock Down 15.7%

Shares of NASDAQ GSAT opened at $31.12 on Thursday. Globalstar, Inc. has a fifty-two week low of $15.00 and a fifty-two week high of $41.10. The company’s 50 day simple moving average is $27.31. The company has a current ratio of 2.81, a quick ratio of 2.72 and a debt-to-equity ratio of 1.30. The firm has a market cap of $3.94 billion, a price-to-earnings ratio of -69.16 and a beta of 1.01.

Globalstar (NASDAQ:GSAT) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.22. Globalstar had a negative return on equity of 1.17% and a negative net margin of 17.80%. Globalstar has set its FY 2025 guidance at EPS.

Globalstar Profile

Globalstar, Inc provides mobile satellite services worldwide. 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; fixed voice and data satellite communications services and equipment at industrial, commercial, and residential sites, as well as rural villages and ships; and data modem services and equipment.