Globalstar (NASDAQ:GSAT) General Counsel Sells $570,952.80 in Stock

Globalstar, Inc. (NASDAQ:GSAT) General Counsel L Barbee Iv Ponder sold 9,790 shares of Globalstar stock in a transaction on Monday, November 17th. The shares were sold at an average price of $58.32, for a total transaction of $570,952.80. Following the completion of the transaction, the general counsel owned 135,658 shares in the company, valued at approximately $7,911,574.56. This trade represents a 6.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

L Barbee Iv Ponder also recently made the following trade(s):

• On Wednesday, November 12th, L Barbee Iv Ponder sold 56 shares of Globalstar stock. The shares were sold at an average price of $61.34, for a total transaction of $3,435.04.

Globalstar Trading Down 1.6%

Shares of Globalstar stock opened at $59.47 on Thursday. The firm has a fifty day moving average price of $44.57. Globalstar, Inc. has a twelve month low of $17.24 and a twelve month high of $65.52. The company has a quick ratio of 2.72, a current ratio of 2.81 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $7.54 billion, a PE ratio of -132.16 and a beta of 1.00.

Globalstar (NASDAQ:GSAT) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.03) by $0.02. The company had revenue of $73.85 million during the quarter. Globalstar had a negative return on equity of 1.17% and a negative net margin of 17.80%.The business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.06 earnings per share. Globalstar has set its FY 2025 guidance at EPS.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Globalstar by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 5,233,721 shares of the company’s stock worth $190,455,000 after buying an additional 141,451 shares during the period. Greenhouse Funds LLLP grew its stake in shares of Globalstar by 6.1% during the third quarter. Greenhouse Funds LLLP now owns 2,149,192 shares of the company’s stock valued at $78,209,000 after acquiring an additional 123,676 shares in the last quarter. Ashford Capital Management Inc. increased its position in shares of Globalstar by 3.8% during the third quarter. Ashford Capital Management Inc. now owns 1,409,321 shares of the company’s stock worth $51,285,000 after acquiring an additional 51,703 shares during the last quarter. Senvest Management LLC lifted its stake in shares of Globalstar by 51.6% in the second quarter. Senvest Management LLC now owns 1,330,533 shares of the company’s stock worth $31,334,000 after acquiring an additional 452,624 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Globalstar by 1.6% in the second quarter. Geode Capital Management LLC now owns 1,274,523 shares of the company’s stock valued at $30,019,000 after purchasing an additional 20,514 shares during the last quarter. 18.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GSAT. Zacks Research lowered shares of Globalstar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Globalstar in a research report on Wednesday, October 8th. Finally, B. Riley lifted their target price on shares of Globalstar from $60.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 10th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $75.00.

Globalstar Company Profile

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.