Globalstar (NYSE:GSAT) Sees Unusually-High Trading Volume - Should You Buy?

Globalstar, Inc. (NYSE:GSAT - Get Free Report) shares saw an uptick in trading volume on Friday . 79,678,308 shares changed hands during mid-day trading, an increase of 1,719% from the previous session's volume of 4,380,409 shares.The stock last traded at $1.25 and had previously closed at $1.05.

Globalstar Stock Performance

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 50-day moving average of $1.15 and a two-hundred day moving average of $1.21. The company has a market capitalization of $2.62 billion, a PE ratio of -46.00 and a beta of 0.85.

Globalstar (NYSE:GSAT - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). The company had revenue of $60.39 million for the quarter, compared to analysts' expectations of $57.49 million. Globalstar had a negative return on equity of 13.69% and a negative net margin of 22.96%. Research analysts anticipate that Globalstar, Inc. will post -0.02 EPS for the current year.

Insider Buying and Selling at Globalstar

In related news, CFO Rebecca Clary sold 75,000 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $1.25, for a total transaction of $93,750.00. Following the completion of the sale, the chief financial officer now owns 1,418,745 shares in the company, valued at $1,773,431.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Rebecca Clary sold 75,000 shares of Globalstar 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 transaction, the chief financial officer now directly owns 1,418,745 shares in the company, valued at $1,773,431.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Timothy Evan Taylor sold 395,000 shares of the company's stock in a transaction 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 directly owns 10,278,649 shares in the company, valued at $12,539,951.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 61.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Globalstar

Hedge funds have recently modified their holdings of the company. CWA Asset Management Group LLC acquired a new position in Globalstar during the third quarter valued at approximately $27,000. Van ECK Associates Corp lifted its position in shares of Globalstar by 34.2% during the third quarter. Van ECK Associates Corp now owns 452,267 shares of the company's stock worth $561,000 after purchasing an additional 115,359 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Globalstar by 13.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 489,755 shares of the company's stock valued at $607,000 after acquiring an additional 59,954 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings 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 valued at $307,000 after buying an additional 48,566 shares during the period. Finally, Procyon Advisors LLC bought a new position in shares of Globalstar during the third quarter valued at approximately $47,000. 18.89% of the stock is 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.