Globalstar (NASDAQ:GSAT) Reaches New 52-Week High – What’s Next?

Globalstar, Inc. (NASDAQ:GSAT)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $79.34 and last traded at $79.8410, with a volume of 3828060 shares traded. The stock had previously closed at $72.89.

Key Stories Impacting Globalstar

Here are the key news stories impacting Globalstar this week:

• Positive Sentiment: Acquisition by Amazon: Amazon agreed to buy Globalstar, positioning the company’s spectrum and satellites as key assets for Amazon Leo’s direct‑to‑device strategy — a transformational strategic exit that explains the rally. Amazon to buy Globalstar for $11.57B
• Positive Sentiment: Apple/iPhone linkage: Deal brings reported commercial ties to Apple (iPhone/Apple Watch emergency features), increasing the revenue and OEM‑partnership upside that acquirers value. Globalstar acquisition brings Apple iPhone bonus
• Positive Sentiment: Big market reaction / momentum: Heavy call‑option activity and headlines driving a surge to multi‑year highs — momentum that can lift price short‑term as arbitrage and retail flows react to the takeover premium.
• Neutral Sentiment: Analyst and deal commentary: Firms (e.g., Jefferies) frame the transaction as a long‑duration strategic bet that accelerates Amazon’s roadmap; useful context for longer‑term upside but execution and capital deployment remain Amazon’s responsibility. Jefferies: deal is long‑term strategic
• Neutral Sentiment: Operational caveat: Analysts note the deal doesn’t solve industry constraints like rocket launch bottlenecks — meaning spectrum/sat assets are valuable, but network scale and deployment timing remain risks. Deal won’t fix launch bottleneck
• Neutral Sentiment: Insider sale: CFO Rebecca Clary sold ~4,037 shares to cover tax withholding on vested awards; disclosed as routine tax‑related selling and not explicitly a vote of no confidence. SEC filing: Form 4
• Negative Sentiment: Shareholder litigation risk: Multiple law firms have opened investigations/class actions alleging the $90 cash or capped‑Amazon‑stock consideration may not be a fair price — potential for litigation, delays or negotiation pressure that could affect timing and deal certainty. Investor alert: Kahn Swick & Foti investigation

Analyst Ratings Changes

A number of equities analysts have commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Globalstar in a research note on Monday, December 29th. Craig Hallum reissued a “buy” rating and set a $70.00 target price on shares of Globalstar in a research note on Monday, March 2nd. Finally, Zacks Research raised Globalstar from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 1st. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Globalstar has a consensus rating of “Hold” and an average target price of $69.00.

Globalstar Stock Up 0.9%

The company has a debt-to-equity ratio of 1.27, a current ratio of 2.42 and a quick ratio of 2.37. The stock has a market capitalization of $10.37 billion, a PE ratio of -537.56, a PEG ratio of 130.47 and a beta of 1.46. The company has a 50 day moving average price of $63.31 and a 200-day moving average price of $59.14.

Globalstar (NASDAQ:GSAT) last posted its earnings results on Friday, February 27th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.12). Globalstar had a negative net margin of 6.10% and a negative return on equity of 1.02%. The business had revenue of $71.96 million for the quarter, compared to analysts’ expectations of $71.80 million. Globalstar’s revenue was up 17.6% compared to the same quarter last year.

Insider Activity at Globalstar

In related news, CEO Paul E. Jacobs sold 714 shares of Globalstar stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $59.56, for a total transaction of $42,525.84. Following the sale, the chief executive officer directly owned 67,032 shares in the company, valued at $3,992,425.92. The trade was a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Rebecca Clary sold 4,037 shares of Globalstar stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $79.85, for a total value of $322,354.45. Following the sale, the chief financial officer owned 115,741 shares in the company, valued at $9,241,918.85. This represents a 3.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 8,191 shares of company stock worth $560,400 over the last ninety days. 60.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Globalstar

Several hedge funds have recently made changes to their positions in the company. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in Globalstar in the fourth quarter worth $26,000. Meeder Asset Management Inc. bought a new stake in Globalstar in the fourth quarter worth $27,000. US Bancorp DE boosted its holdings in Globalstar by 610.7% in the third quarter. US Bancorp DE now owns 931 shares of the company’s stock worth $34,000 after acquiring an additional 800 shares in the last quarter. Fortitude Family Office LLC bought a new stake in Globalstar in the third quarter worth $37,000. Finally, Advisory Services Network LLC bought a new stake in Globalstar in the third quarter worth $40,000. 18.89% of the stock is currently owned by institutional investors.

About Globalstar

Globalstar, Inc is a leading provider of mobile satellite voice and data communications services. Through a network of low Earth orbit (LEO) satellites, the company delivers reliable satellite connectivity to users in remote or underserved regions where terrestrial networks are unavailable or unreliable. Its product portfolio includes satellite phones, two-way satellite data modems and Internet of Things (IoT) devices designed for tracking, monitoring and emergency notification.

Founded in 1991 as a joint venture between Loral and Qualcomm, Globalstar launched its first fleet of 48 satellites between 1998 and 2000.