Globalstar (NYSEAMERICAN:GSAT) Stock Price Up 3.3% - Still a Buy?

Globalstar, Inc. (NYSEAMERICAN:GSAT - Get Free Report) was up 3.3% during mid-day trading on Friday . The stock traded as high as $2.23 and last traded at $2.20. Approximately 16,637,037 shares changed hands during mid-day trading, an increase of 105% from the average daily volume of 8,111,224 shares. The stock had previously closed at $2.13.

Analyst Ratings Changes

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

Globalstar Trading Up 0.9 %

The firm's 50 day moving average is $1.25 and its 200 day moving average is $1.24. 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 capitalization of $4.09 billion, a price-to-earnings ratio of -71.67 and a beta of 0.88.

Hedge Funds Weigh In On Globalstar

A number of large investors have recently made changes to their positions in the business. PFG Investments LLC raised its holdings in shares of 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 acquiring an additional 10,000 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Globalstar during the 3rd quarter valued at about $27,000. XTX Topco Ltd bought a new stake in shares of Globalstar in the 2nd quarter valued at approximately $31,000. Panagora Asset Management Inc. acquired a new position in Globalstar in the second quarter worth approximately $35,000. Finally, Tokio Marine Asset Management Co. Ltd. bought a new position in Globalstar during the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 18.89% of the company's stock.

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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.