Globalstar (NASDAQ:GSAT) Raised to Hold at Wall Street Zen

Globalstar (NASDAQ:GSAT) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Monday.

Globalstar Stock Performance

GSAT opened at $23.78 on Monday. Globalstar has a 1-year low of $15.00 and a 1-year high of $41.10. The firm has a market cap of $3.01 billion, a price-to-earnings ratio of -32.58 and a beta of 0.86. The company has a debt-to-equity ratio of 1.37, a quick ratio of 2.19 and a current ratio of 2.27.

Insider Activity at Globalstar

In related news, Director James Monroe III bought 50,000 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The shares were bought at an average price of $18.68 per share, with a total value of $934,000.00. Following the completion of the transaction, the director now directly owns 58,833,076 shares in the company, valued at approximately $1,099,001,859.68. This represents a 0.09% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 60.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Globalstar

A hedge fund recently bought a new stake in Globalstar stock. Acadian Asset Management LLC purchased a new stake in shares of Globalstar, Inc. (NASDAQ:GSAT) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 4,777 shares of the company’s stock, valued at approximately $99,000. Institutional investors own 18.89% of the company’s stock.

About Globalstar

Globalstar, Inc provides mobile satellite services worldwide. 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; fixed voice and data satellite communications services and equipment at industrial, commercial, and residential sites, as well as rural villages and ships; and data modem services and equipment.