Globalstar, Inc. (NYSEAMERICAN:GSAT) was the recipient of a large decline in short interest during the month of December. As of December 29th, there was short interest totalling 69,956,981 shares, a decline of 6.8% from the December 15th total of 75,073,533 shares. Approximately 11.5% of the company’s stock are sold short. Based on an average daily trading volume, of 4,663,613 shares, the short-interest ratio is presently 15.0 days.
In other Globalstar news, CEO James Monroe III sold 38,000,000 shares of Globalstar stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $1.16, for a total value of $44,080,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
An institutional investor recently raised its position in Globalstar stock. Private Advisor Group LLC grew its position in Globalstar, Inc. (NYSEAMERICAN:GSAT) by 650.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,000 shares of the Wireless communications provider’s stock after buying an additional 65,000 shares during the quarter. Private Advisor Group LLC’s holdings in Globalstar were worth $122,000 as of its most recent SEC filing.
Shares of Globalstar (NYSEAMERICAN GSAT) traded down $0.04 during mid-day trading on Wednesday, hitting $1.26. 2,833,000 shares of the company traded hands, compared to its average volume of 2,985,040. The company has a market cap of $1,640.00, a P/E ratio of -7.41 and a beta of 2.48. Globalstar has a 1-year low of $1.11 and a 1-year high of $2.59.
Globalstar (NYSEAMERICAN:GSAT) last posted its quarterly earnings data on Thursday, November 2nd. The Wireless communications provider reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.06. The firm had revenue of $30.46 million during the quarter. Globalstar had a net margin of 172.06% and a return on equity of 145.71%.
Several brokerages recently commented on GSAT. TheStreet raised shares of Globalstar from a “d” rating to a “c-” rating in a report on Monday, November 13th. BidaskClub raised shares of Globalstar from a “strong sell” rating to a “sell” rating in a report on Thursday, October 12th.
Globalstar Company Profile
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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