Globalstar, Inc. (NYSEAMERICAN:GSAT) Short Interest Up 15.6% in November

Globalstar, Inc. (NYSEAMERICAN:GSAT) saw a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 28,720,000 shares, a growth of 15.6% from the October 31st total of 24,850,000 shares. Based on an average daily volume of 14,320,000 shares, the short-interest ratio is currently 2.0 days. Currently, 3.8% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, Craig Hallum lifted 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.

Globalstar Trading Up 8.8 %

NYSEAMERICAN GSAT traded up $0.17 on Tuesday, hitting $2.10. 25,593,600 shares of the stock were exchanged, compared to its average volume of 7,073,468. The firm has a market capitalization of $3.99 billion, a P/E ratio of -70.00 and a beta of 0.88. Globalstar has a 52-week low of $1.00 and a 52-week high of $2.22. 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 has a fifty day moving average price of $1.25 and a two-hundred day moving average price of $1.24.

Insider Buying and Selling

In other Globalstar news, VP Timothy Evan Taylor sold 395,000 shares of Globalstar stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $1.22, for a total transaction of $481,900.00. Following the completion of the transaction, the vice president now directly owns 10,278,649 shares of the company’s stock, valued at $12,539,951.78. The trade was a 3.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 61.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Globalstar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GSAT. PFG Investments LLC lifted its holdings in shares of Globalstar by 83.3% in the 2nd 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 period. CWA Asset Management Group LLC purchased a new stake in Globalstar in the third quarter worth about $27,000. XTX Topco Ltd purchased a new position in Globalstar during the 2nd quarter valued at about $31,000. Panagora Asset Management Inc. bought a new stake in shares of Globalstar in the 2nd quarter valued at about $35,000. Finally, Tokio Marine Asset Management Co. Ltd. bought a new stake in shares of Globalstar in the 3rd quarter valued at about $39,000. Institutional investors own 18.89% of the company’s stock.

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.