Short Interest in Globalstar, Inc. (NYSEAMERICAN:GSAT) Grows By 20.2%

Globalstar, Inc. (NYSEAMERICAN:GSAT - Get Free Report) saw a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 2,800,000 shares, an increase of 20.2% from the February 13th total of 2,330,000 shares. Currently, 5.6% of the company's shares are sold short. Based on an average daily volume of 1,120,000 shares, the days-to-cover ratio is presently 2.5 days.

Analysts Set New Price Targets

Separately, B. Riley lifted their target price on shares of Globalstar from $4.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday, February 19th.

Globalstar Trading Up 1.6 %

Globalstar stock traded up $0.35 during trading hours on Friday, hitting $21.97. 1,219,313 shares of the stock traded hands, compared to its average volume of 944,284. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91. Globalstar has a one year low of $15.00 and a one year high of $41.10. The stock has a market capitalization of $2.78 billion, a P/E ratio of -48.85 and a beta of 1.03. The business's 50-day moving average price is $24.56.

About Globalstar

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.