Globalstar (NASDAQ:GSAT) CFO Sells $43,670.22 in Stock

Globalstar, Inc. (NASDAQ:GSAT) CFO Rebecca Clary sold 762 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $57.31, for a total value of $43,670.22. Following the sale, the chief financial officer directly owned 110,254 shares in the company, valued at approximately $6,318,656.74. This represents a 0.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Rebecca Clary also recently made the following trade(s):

• On Tuesday, March 10th, Rebecca Clary sold 351 shares of Globalstar stock. The shares were sold at an average price of $55.38, for a total value of $19,438.38.
• On Monday, December 29th, Rebecca Clary sold 1,260 shares of Globalstar stock. The stock was sold at an average price of $61.42, for a total transaction of $77,389.20.
• On Monday, December 22nd, Rebecca Clary sold 420 shares of Globalstar stock. The shares were sold at an average price of $63.01, for a total transaction of $26,464.20.
• On Wednesday, December 17th, Rebecca Clary sold 4,829 shares of Globalstar stock. The stock was sold at an average price of $56.64, for a total transaction of $273,514.56.
• On Wednesday, December 17th, Rebecca Clary sold 4,829 shares of Globalstar stock. The stock was sold at an average price of $56.64, for a total transaction of $273,514.56.

Globalstar Stock Down 0.8%

NASDAQ GSAT traded down $0.48 on Thursday, reaching $57.11. The company had a trading volume of 513,986 shares, compared to its average volume of 632,339. The company’s fifty day moving average is $60.92 and its 200-day moving average is $53.01. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of -380.71, a price-to-earnings-growth ratio of 95.95 and a beta of 1.43. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.37 and a current ratio of 2.42. Globalstar, Inc. has a 1-year low of $17.24 and a 1-year high of $74.88.

Institutional Trading of Globalstar

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its stake in Globalstar by 1.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 18,106 shares of the company’s stock valued at $1,219,000 after acquiring an additional 248 shares during the last quarter. Clearstead Trust LLC increased its stake in shares of Globalstar by 20.7% during the 4th quarter. Clearstead Trust LLC now owns 2,131 shares of the company’s stock worth $130,000 after purchasing an additional 366 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in shares of Globalstar in the 4th quarter valued at about $26,000. NewEdge Advisors LLC raised its holdings in shares of Globalstar by 85.1% in the 4th quarter. NewEdge Advisors LLC now owns 935 shares of the company’s stock valued at $57,000 after purchasing an additional 430 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in Globalstar in the 4th quarter valued at about $27,000. 18.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GSAT shares. Deutsche Bank Aktiengesellschaft assumed coverage on Globalstar in a report on Tuesday, December 16th. They set a “hold” rating and a $62.00 price objective for the company. Zacks Research cut shares of Globalstar from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Globalstar in a research report on Monday, December 29th. Finally, Craig Hallum restated a “buy” rating and set a $70.00 target price on shares of Globalstar in a report on Monday, March 2nd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $69.00.

Globalstar Company Profile

Globalstar, Inc is a leading provider of mobile satellite voice and data communications services. Through a network of low Earth orbit (LEO) satellites, the company delivers reliable satellite connectivity to users in remote or underserved regions where terrestrial networks are unavailable or unreliable. Its product portfolio includes satellite phones, two-way satellite data modems and Internet of Things (IoT) devices designed for tracking, monitoring and emergency notification.

Founded in 1991 as a joint venture between Loral and Qualcomm, Globalstar launched its first fleet of 48 satellites between 1998 and 2000.