Globalstar (NYSEAMERICAN:GSAT) Shares Gap Up to $2.09

Globalstar, Inc. (NYSEAMERICAN:GSATGet Rating) shares gapped up before the market opened on Wednesday . The stock had previously closed at $2.09, but opened at $2.14. Globalstar shares last traded at $2.06, with a volume of 63,983 shares changing hands.

Globalstar Stock Performance

The company has a debt-to-equity ratio of 0.65, a current ratio of 1.12 and a quick ratio of 0.89. The company has a market cap of $3.01 billion, a P/E ratio of -27.83 and a beta of 0.04.

Globalstar (NYSEAMERICAN:GSATGet Rating) last posted its quarterly earnings data on Thursday, August 4th. The Wireless communications provider reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). The business had revenue of $36.80 million for the quarter, compared to analyst estimates of $29.71 million. Globalstar had a negative return on equity of 25.83% and a negative net margin of 83.04%. Research analysts expect that Globalstar, Inc. will post -0.05 EPS for the current year.

Institutional Trading of Globalstar

A number of large investors have recently made changes to their positions in the stock. ProShare Advisors LLC lifted its position in Globalstar by 67.1% during the fourth quarter. ProShare Advisors LLC now owns 136,304 shares of the Wireless communications provider’s stock worth $158,000 after buying an additional 54,721 shares during the period. First Trust Advisors LP purchased a new position in Globalstar during the fourth quarter worth about $1,453,000. BNP Paribas Arbitrage SA lifted its position in Globalstar by 13.1% during the fourth quarter. BNP Paribas Arbitrage SA now owns 130,477 shares of the Wireless communications provider’s stock worth $151,000 after buying an additional 15,090 shares during the period. HighTower Advisors LLC lifted its position in Globalstar by 4.7% during the fourth quarter. HighTower Advisors LLC now owns 1,074,360 shares of the Wireless communications provider’s stock worth $1,246,000 after buying an additional 48,666 shares during the period. Finally, Plustick Management LLC purchased a new position in Globalstar during the fourth quarter worth about $10,092,000. Institutional investors and hedge funds own 17.81% of the company’s stock.

About Globalstar

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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.

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