Globalstar, Inc. (NASDAQ:GSAT – Get Free Report) CFO Rebecca Clary sold 920 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $81.75, for a total value of $75,210.00. Following the transaction, the chief financial officer directly owned 120,278 shares in the company, valued at approximately $9,832,726.50. This represents a 0.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Rebecca Clary also recently made the following trade(s):
- On Tuesday, April 28th, Rebecca Clary sold 4,066 shares of Globalstar stock. The stock was sold at an average price of $81.24, for a total value of $330,321.84.
- On Wednesday, April 15th, Rebecca Clary sold 4,037 shares of Globalstar stock. The stock was sold at an average price of $79.85, for a total value of $322,354.45.
- On Wednesday, March 11th, Rebecca Clary sold 762 shares of Globalstar stock. The stock was sold at an average price of $57.31, for a total value of $43,670.22.
- On Tuesday, March 10th, Rebecca Clary sold 351 shares of Globalstar stock. The stock was sold at an average price of $55.38, for a total value of $19,438.38.
Globalstar Trading Down 1.4%
Shares of NASDAQ GSAT opened at $81.49 on Friday. The company has a market cap of $10.50 billion, a price-to-earnings ratio of -543.27 and a beta of 1.55. Globalstar, Inc. has a 12-month low of $19.63 and a 12-month high of $84.69. The company has a current ratio of 1.60, a quick ratio of 1.56 and a debt-to-equity ratio of 1.26. The stock’s 50 day simple moving average is $79.02 and its 200 day simple moving average is $67.73.
Institutional Trading of Globalstar
Large investors have recently added to or reduced their stakes in the business. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in Globalstar in the 4th quarter valued at approximately $26,000. Meeder Asset Management Inc. acquired a new stake in Globalstar in the 4th quarter valued at approximately $27,000. Optiver Holding B.V. acquired a new stake in Globalstar in the 1st quarter valued at approximately $32,000. US Bancorp DE increased its position in Globalstar by 610.7% in the 3rd quarter. US Bancorp DE now owns 931 shares of the company’s stock valued at $34,000 after acquiring an additional 800 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in Globalstar in the 3rd quarter valued at approximately $40,000. 18.89% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
GSAT has been the topic of several recent research reports. Craig Hallum reissued a “buy” rating and issued a $70.00 price target on shares of Globalstar in a report on Monday, March 2nd. Weiss Ratings raised Globalstar from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, May 6th. Clear Str downgraded Globalstar from a “strong-buy” rating to a “hold” rating in a report on Friday, May 15th. Finally, Zacks Research downgraded Globalstar from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 12th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Globalstar has a consensus rating of “Hold” and an average target price of $69.00.
Read Our Latest Analysis on Globalstar
Globalstar Company Profile
Globalstar, Inc is a leading provider of mobile satellite voice and data communications services. Through a network of low Earth orbit (LEO) satellites, the company delivers reliable satellite connectivity to users in remote or underserved regions where terrestrial networks are unavailable or unreliable. Its product portfolio includes satellite phones, two-way satellite data modems and Internet of Things (IoT) devices designed for tracking, monitoring and emergency notification.
Founded in 1991 as a joint venture between Loral and Qualcomm, Globalstar launched its first fleet of 48 satellites between 1998 and 2000.
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