Globalstar (NYSEAMERICAN:GSAT) Sees Large Volume Increase - Should You Buy?

Globalstar, Inc. (NYSEAMERICAN:GSAT - Get Free Report) shares saw unusually-strong trading volume on Thursday . Approximately 3,154,484 shares traded hands during mid-day trading, a decline of 61% from the previous session's volume of 8,017,312 shares.The stock last traded at $2.05 and had previously closed at $1.97.

Wall Street Analyst Weigh In

Separately, Craig Hallum lifted their target price on shares of Globalstar from $4.00 to $5.00 and gave the company a "buy" rating in a report on Monday, November 4th.

Globalstar Stock Up 8.1 %

The firm's 50 day moving average price is $1.25 and its two-hundred day moving average price is $1.24. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.04 and a quick ratio of 0.95. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of -71.00 and a beta of 0.88.

Institutional Trading of Globalstar

Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in shares of Globalstar by 12.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,791,176 shares of the company's stock worth $3,126,000 after purchasing an additional 307,357 shares in the last quarter. Magnus Financial Group LLC raised its holdings in shares of Globalstar by 1.9% in the second quarter. Magnus Financial Group LLC now owns 2,707,796 shares of the company's stock worth $3,033,000 after acquiring an additional 50,000 shares during the last quarter. Murchinson Ltd. lifted its position in shares of Globalstar by 24.6% in the second quarter. Murchinson Ltd. now owns 1,245,999 shares of the company's stock valued at $1,396,000 after acquiring an additional 245,999 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Globalstar by 2.9% during the second quarter. Rhumbline Advisers now owns 1,021,836 shares of the company's stock valued at $1,144,000 after acquiring an additional 28,496 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in Globalstar by 13.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 489,755 shares of the company's stock worth $607,000 after purchasing an additional 59,954 shares in the last quarter. Hedge funds and other 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.