Globalstar, Inc. (NYSEARCA:GSAT – Get Free Report)’s share price rose 7.7% during mid-day trading on Wednesday . The company traded as high as $65.52 and last traded at $64.5610. Approximately 894,334 shares traded hands during trading, a decline of 1% from the average daily volume of 902,231 shares. The stock had previously closed at $59.92.
Globalstar Price Performance
The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.99 and a current ratio of 1.09. The company has a market cap of $8.17 billion, a PE ratio of -2,146.00 and a beta of 1.00. The company’s 50-day simple moving average is $41.14 and its 200 day simple moving average is $29.66.
Hedge Funds Weigh In On Globalstar
Several hedge funds and other institutional investors have recently made changes to their positions in GSAT. IFP Advisors Inc increased its stake in shares of Globalstar by 59,255.6% during the first quarter. IFP Advisors Inc now owns 5,342 shares of the company’s stock worth $111,000 after buying an additional 5,333 shares during the period. New Age Alpha Advisors LLC purchased a new stake in shares of Globalstar in the 1st quarter valued at approximately $150,000. Ieq Capital LLC purchased a new stake in shares of Globalstar in the 1st quarter valued at approximately $213,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Globalstar during the 1st quarter worth $1,332,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Globalstar during the 1st quarter worth $1,915,000. Hedge funds and other institutional investors own 18.89% of the company’s stock.
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.
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