Globalstar, Inc. (NYSEAMERICAN:GSAT - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $2.17, but opened at $2.22. Globalstar shares last traded at $2.08, with a volume of 7,977,959 shares traded.
Analyst Upgrades and Downgrades
Separately, Craig Hallum increased their price objective on Globalstar from $4.00 to $5.00 and gave the company a "buy" rating in a research report on Monday, November 4th.
Read Our Latest Analysis on Globalstar
Globalstar Trading Down 4.6 %
The company has a quick ratio of 0.95, a current ratio of 1.04 and a debt-to-equity ratio of 0.94. The firm has a market cap of $3.93 billion, a P/E ratio of -69.00 and a beta of 0.88. The firm's fifty day moving average is $1.25 and its two-hundred day moving average is $1.24.
Hedge Funds Weigh In On Globalstar
A number of institutional investors have recently added to or reduced their stakes in GSAT. CIBC Asset Management Inc boosted its position in shares of Globalstar by 154.9% in the 2nd quarter. CIBC Asset Management Inc now owns 53,535 shares of the company's stock worth $60,000 after purchasing an additional 32,535 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in 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 worth $3,126,000 after acquiring an additional 307,357 shares in the last quarter. Inspire Investing LLC grew its stake in shares of Globalstar by 28.2% in the second quarter. Inspire Investing LLC now owns 318,617 shares of the company's stock worth $357,000 after acquiring an additional 70,179 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Globalstar by 57.6% during the third quarter. Thrivent Financial for Lutherans now owns 54,561 shares of the company's stock valued at $68,000 after acquiring an additional 19,946 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Globalstar by 24.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 247,342 shares of the company's stock worth $307,000 after purchasing an additional 48,566 shares during the last quarter. Institutional investors own 18.89% of the company's stock.
About Globalstar
(
Get Free Report)
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.
Further Reading
Before you consider Globalstar, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Globalstar wasn't on the list.
While Globalstar currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
