Globalstar, Inc. (NYSEAMERICAN:GSAT) was the recipient of a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 82,240,405 shares, a growth of 1.3% from the November 15th total of 81,223,964 shares. Based on an average daily volume of 3,526,222 shares, the short-interest ratio is presently 23.3 days. Currently, 12.1% of the shares of the company are short sold.
In other Globalstar news, CEO James Monroe III sold 38,000,000 shares of the business’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $1.16, for a total value of $44,080,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
An institutional investor recently raised its position in Globalstar stock. Private Advisor Group LLC boosted its stake in Globalstar, Inc. (NYSEAMERICAN:GSAT) by 650.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,000 shares of the Wireless communications provider’s stock after purchasing an additional 65,000 shares during the period. Private Advisor Group LLC’s holdings in Globalstar were worth $122,000 at the end of the most recent quarter.
Globalstar (NYSEAMERICAN GSAT) opened at $1.21 on Thursday. Globalstar has a 52 week low of $0.87 and a 52 week high of $2.59.
Globalstar (NYSEAMERICAN:GSAT) last issued its quarterly earnings data on Thursday, November 2nd. The Wireless communications provider reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.06. The business had revenue of $30.46 million during the quarter. Globalstar had a net margin of 172.06% and a return on equity of 145.71%.
A number of analysts have recently weighed in on the stock. BidaskClub raised shares of Globalstar from a “strong sell” rating to a “sell” rating in a report on Thursday, October 12th. TheStreet raised shares of Globalstar from a “d” rating to a “c-” rating in a report on Monday, November 13th.
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Globalstar Company Profile
Globalstar, Inc (Globalstar) provides mobile satellite services (MSS), including voice and data communications services globally through satellite. The Company provides wireless communications services in areas not served or underserved by terrestrial wireless and wireline networks and in circumstances where terrestrial networks are not operational due to natural or man-made disasters.
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