Short Interest in Globalstar Rises By 6.0% (GSAT)
Shares of Globalstar (NYSE:GSAT) were the target of a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 19,440,901 shares, a growth of 6.0% from the July 31st total of 18,345,420 shares, Stock Ratings Network.com reports. Based on an average daily volume of 3,278,574 shares, the short-interest ratio is currently 5.9 days. Approximately 5.5% of the company’s shares are sold short.
Globalstar (NYSE:GSAT) traded down 0.50% during mid-day trading on Tuesday, hitting $3.98. The stock had a trading volume of 1,770,892 shares. Globalstar has a one year low of $2.33 and a one year high of $4.53. The stock has a 50-day moving average of $4.01 and a 200-day moving average of $3.61. The company’s market cap is $3.937 billion.
Globalstar, Inc (NYSE:GSAT) is a provider of mobile voice and data communications services globally via satellite.
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