TheStreet Lowers Globalstar (GSAT) to D+

Globalstar (NYSEAMERICAN:GSAT) was downgraded by investment analysts at TheStreet from a “c-” rating to a “d+” rating in a report released on Friday.

Separately, BidaskClub raised Globalstar from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 12th.

Shares of Globalstar (NYSEAMERICAN:GSAT) opened at $0.92 on Friday. The firm has a market capitalization of $1,240.00, a price-to-earnings ratio of -5.41 and a beta of 1.54. Globalstar has a 52-week low of $0.92 and a 52-week high of $2.59.

In related news, CEO James Monroe III sold 38,000,000 shares of Globalstar stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $1.16, for a total transaction of $44,080,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

A hedge fund recently raised its stake in Globalstar stock. Private Advisor Group LLC raised its holdings in Globalstar, Inc. (NYSEAMERICAN:GSAT) by 650.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,000 shares of the Wireless communications provider’s stock after acquiring an additional 65,000 shares during the period. Private Advisor Group LLC’s holdings in Globalstar were worth $122,000 as of its most recent filing with the Securities and Exchange Commission.

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About Globalstar

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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