Globalstar, Inc. (NYSEAMERICAN:GSAT) Sees Significant Growth in Short Interest

Globalstar, Inc. (NYSEAMERICAN:GSAT - Get Free Report) saw a large increase in short interest in December. As of December 15th, there was short interest totalling 30,120,000 shares, an increase of 6.7% from the November 30th total of 28,240,000 shares. Currently, 4.0% of the shares of the stock are sold short. Based on an average daily volume of 18,900,000 shares, the short-interest ratio is currently 1.6 days.

Analyst Upgrades and Downgrades

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

Institutional Trading of Globalstar

Institutional investors have recently added to or reduced their stakes in the business. PFG Investments LLC lifted its position in shares of Globalstar by 83.3% in the second quarter. PFG Investments LLC now owns 22,000 shares of the company's stock worth $25,000 after buying an additional 10,000 shares during the last quarter. Inspire Investing LLC raised its stake in shares of Globalstar by 4.7% in the 3rd quarter. Inspire Investing LLC now owns 333,479 shares of the company's stock valued at $414,000 after acquiring an additional 14,862 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Globalstar by 57.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 54,561 shares of the company's stock worth $68,000 after purchasing an additional 19,946 shares during the last quarter. Renaissance Technologies LLC boosted its position in Globalstar by 12.9% during the second quarter. Renaissance Technologies LLC now owns 176,629 shares of the company's stock worth $198,000 after purchasing an additional 20,200 shares during the period. Finally, CWA Asset Management Group LLC acquired a new position in Globalstar during the third quarter valued at approximately $27,000. 18.89% of the stock is currently owned by institutional investors and hedge funds.

Globalstar Stock Down 4.6 %

Shares of NYSEAMERICAN GSAT traded down $0.10 during mid-day trading on Wednesday, reaching $2.07. The company had a trading volume of 13,472,494 shares, compared to its average volume of 8,197,040. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.95 and a current ratio of 1.04. Globalstar has a twelve month low of $1.00 and a twelve month high of $2.74. The stock's 50 day moving average is $1.25 and its 200-day moving average is $1.24. The stock has a market capitalization of $3.93 billion, a PE ratio of -69.00 and a beta of 0.88.

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.