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

Shares of Globalstar, Inc. (NYSEAMERICAN:GSAT - Get Free Report) saw an uptick in trading volume on Friday . 5,037,329 shares traded hands during trading, a decline of 30% from the previous session's volume of 7,183,232 shares.The stock last traded at $2.22 and had previously closed at $2.06.

Analysts Set New Price Targets

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

Globalstar Stock Performance

The firm's fifty day simple moving average is $1.25 and its 200 day simple moving average is $1.24. The company has a market capitalization of $4.20 billion, a PE ratio of -73.67 and a beta of 0.88. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.04 and a quick ratio of 0.95.

Insider Buying and Selling

In other news, VP Timothy Evan Taylor sold 395,000 shares of Globalstar stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $1.22, for a total value of $481,900.00. Following the sale, the vice president now owns 10,278,649 shares in the company, valued at $12,539,951.78. This trade represents a 3.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 61.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Globalstar

A number of hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp grew its holdings in shares of Globalstar by 12.4% in the second quarter. Bank of New York Mellon Corp now owns 2,791,176 shares of the company's stock valued at $3,126,000 after purchasing an additional 307,357 shares during the period. SG Americas Securities LLC boosted its holdings in Globalstar by 1,405.0% in the 3rd quarter. SG Americas Securities LLC now owns 276,825 shares of the company's stock valued at $343,000 after purchasing an additional 258,431 shares during the last quarter. Murchinson Ltd. grew its stake in shares of Globalstar by 24.6% in the 2nd quarter. Murchinson Ltd. now owns 1,245,999 shares of the company's stock valued at $1,396,000 after buying an additional 245,999 shares during the period. Intech Investment Management LLC acquired a new stake in shares of Globalstar during the 3rd quarter worth approximately $199,000. Finally, Van ECK Associates Corp raised its position in shares of Globalstar by 34.2% during the 3rd quarter. Van ECK Associates Corp now owns 452,267 shares of the company's stock valued at $561,000 after buying an additional 115,359 shares during the period. 18.89% of the stock is currently owned by institutional investors and hedge funds.

About Globalstar

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.