Globalstar (NYSEAMERICAN:GSAT) Sees Strong Trading Volume - Time to Buy?

Globalstar, Inc. (NYSEAMERICAN:GSAT - Get Free Report) shares saw strong trading volume on Friday . 3,747,915 shares were traded during trading, a decline of 46% from the previous session's volume of 6,961,108 shares.The stock last traded at $1.97 and had previously closed at $1.90.

Wall Street Analyst Weigh In

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

Globalstar Stock Performance

The company has a market capitalization of $3.71 billion, a P/E ratio of -65.00 and a beta of 0.88. The stock's fifty day moving average price is $1.25 and its 200-day moving average price is $1.24. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.95 and a current ratio of 1.04.

Insiders Place Their Bets

In other news, VP Timothy Evan Taylor sold 395,000 shares of the company's stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $1.22, for a total value of $481,900.00. Following the transaction, the vice president now owns 10,278,649 shares of the company's stock, valued at approximately $12,539,951.78. This represents a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Rebecca Clary sold 75,000 shares of the business's stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $1.25, for a total value of $93,750.00. Following the completion of the sale, the chief financial officer now owns 1,418,745 shares of the company's stock, valued at $1,773,431.25. This trade represents a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 61.00% of the company's stock.

Institutional Investors Weigh In On Globalstar

A number of hedge funds and other institutional investors have recently made changes to their positions in GSAT. PFG Investments LLC lifted its position in Globalstar by 83.3% during the second quarter. PFG Investments LLC now owns 22,000 shares of the company's stock worth $25,000 after purchasing an additional 10,000 shares during the period. CWA Asset Management Group LLC acquired a new stake in shares of Globalstar during the 3rd quarter worth approximately $27,000. XTX Topco Ltd bought a new position in Globalstar in the second quarter valued at approximately $31,000. Panagora Asset Management Inc. acquired a new position in Globalstar during the second quarter valued at approximately $35,000. Finally, Tokio Marine Asset Management Co. Ltd. bought a new stake in Globalstar during the third quarter worth $39,000. 18.89% of the stock is currently owned by institutional investors and hedge funds.

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.