Separately, BidaskClub upgraded Globalstar from a strong sell rating to a sell rating in a research note on Thursday, October 12th.
Globalstar (NYSEAMERICAN:GSAT) opened at $0.92 on Friday. The company has a market capitalization of $1,240.00, a PE ratio of -5.41 and a beta of 1.54. Globalstar has a one year low of $0.92 and a one year high of $2.59.
In related news, CEO James Monroe III sold 38,000,000 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $1.16, for a total value of $44,080,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
A hedge fund recently raised its stake in Globalstar stock. Schwab Charles Investment Management Inc. increased its holdings in Globalstar, Inc. (NYSEAMERICAN:GSAT) by 35.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,099,713 shares of the Wireless communications provider’s stock after acquiring an additional 545,789 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.17% of Globalstar worth $2,751,000 as of its most recent filing with the SEC.
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Globalstar, Inc (Globalstar) provides mobile satellite services (MSS), including voice and data communications services globally through satellite. The Company provides wireless communications services in areas not served or underserved by terrestrial wireless and wireline networks and in circumstances where terrestrial networks are not operational due to natural or man-made disasters.
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