Globalstar, Inc. (NYSEARCA:GSAT) CEO Sells $31,840.41 in Stock

Globalstar, Inc. (NYSEARCA:GSAT) CEO Paul E. Jacobs sold 14,539 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $2.19, for a total transaction of $31,840.41. Following the completion of the sale, the chief executive officer now owns 84,815 shares of the company’s stock, valued at approximately $185,744.85. The trade was a 14.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Globalstar Trading Down 7.5 %

Shares of NYSEARCA:GSAT opened at $1.98 on Friday. Globalstar, Inc. has a 1-year low of $1.00 and a 1-year high of $2.74. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.04 and a quick ratio of 0.95. The stock’s 50 day moving average price is $2.05. The firm has a market cap of $3.76 billion, a price-to-earnings ratio of -66.00 and a beta of 0.88.

Analyst Upgrades and Downgrades

GSAT has been the subject of a number of analyst reports. Craig Hallum lifted their target price on shares of Globalstar from $4.00 to $5.00 and gave the company a “buy” rating in a research note on Monday, November 4th. StockNews.com upgraded Globalstar from a “sell” rating to a “hold” rating in a research note on Monday, November 11th.

Institutional Trading of Globalstar

Several institutional investors have recently made changes to their positions in GSAT. PFG Investments LLC boosted its position in Globalstar by 83.3% in the second quarter. PFG Investments LLC now owns 22,000 shares of the company’s stock valued at $25,000 after buying an additional 10,000 shares in the last quarter. CWA Asset Management Group LLC bought a new position in Globalstar in the third quarter valued at about $27,000. XTX Topco Ltd acquired a new stake in shares of Globalstar during the 2nd quarter worth approximately $31,000. Tokio Marine Asset Management Co. Ltd. acquired a new stake in Globalstar during the 3rd quarter worth $39,000. Finally, Procyon Advisors LLC acquired a new stake in shares of Globalstar during the third quarter worth $47,000. 18.89% of the stock is currently owned by institutional investors and hedge funds.

About Globalstar

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.