Globalstar, Inc. (NYSEAMERICAN:GSAT - Get Free Report)'s share price was up 8.2% during trading on Wednesday . The stock traded as high as $2.07 and last traded at $2.06. Approximately 9,859,071 shares traded hands during trading, an increase of 24% from the average daily volume of 7,932,971 shares. The stock had previously closed at $1.90.
Analyst Upgrades and Downgrades
Separately, Craig Hallum upped their price objective on shares of Globalstar from $4.00 to $5.00 and gave the stock a "buy" rating in a research note on Monday, November 4th.
Check Out Our Latest Report on GSAT
Globalstar Stock Performance
The firm has a market cap of $3.52 billion, a P/E ratio of -61.67 and a beta of 0.88. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.95 and a current ratio of 1.04. The stock's 50-day moving average is $1.25 and its 200 day moving average is $1.24.
Hedge Funds Weigh In On Globalstar
A number of large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew 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 acquiring an additional 307,357 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Globalstar by 1,405.0% during the third quarter. SG Americas Securities LLC now owns 276,825 shares of the company's stock worth $343,000 after purchasing an additional 258,431 shares during the last quarter. Murchinson Ltd. grew its position in 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 purchasing an additional 245,999 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Globalstar in the 3rd quarter valued at $199,000. Finally, Van ECK Associates Corp lifted its position in Globalstar by 34.2% during the 3rd quarter. Van ECK Associates Corp now owns 452,267 shares of the company's stock worth $561,000 after buying an additional 115,359 shares in the last quarter. Institutional investors own 18.89% of the company's stock.
Globalstar Company Profile
(
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.
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