Globalstar (NYSEARCA:GSAT) Sets New 52-Week High – Here’s What Happened

Globalstar, Inc. (NYSEARCA:GSAT)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $46.50 and last traded at $45.53, with a volume of 1394242 shares. The stock had previously closed at $43.73.

Globalstar Price Performance

The firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of -1,446.33 and a beta of 0.99. The business’s fifty day simple moving average is $32.36 and its 200 day simple moving average is $25.32. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99.

Institutional Investors Weigh In On Globalstar

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in shares of Globalstar during the first quarter valued at approximately $57,000. IFP Advisors Inc grew its position in Globalstar by 59,255.6% in the 1st quarter. IFP Advisors Inc now owns 5,342 shares of the company’s stock valued at $111,000 after purchasing an additional 5,333 shares during the period. Inlight Wealth Management LLC acquired a new stake in Globalstar in the 1st quarter valued at $122,000. New Age Alpha Advisors LLC bought a new position in shares of Globalstar in the first quarter valued at $150,000. Finally, Rossby Financial LCC bought a new position in shares of Globalstar in the first quarter valued at $157,000. Institutional investors own 18.89% of the company’s stock.

Globalstar Company Profile

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.