Globalstar, Inc. (NYSEAMERICAN:GSAT) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 77,994,175 shares, a decline of 7.4% from the October 13th total of 84,262,540 shares. Based on an average daily volume of 3,432,059 shares, the short-interest ratio is presently 22.7 days. Currently, 15.0% of the company’s stock are short sold.

Globalstar (NYSEAMERICAN:GSAT) remained flat at $$1.59 during midday trading on Monday. The stock had a trading volume of 2,097,200 shares, compared to its average volume of 5,339,504. Globalstar has a 1 year low of $0.73 and a 1 year high of $2.59.

Globalstar (NYSEAMERICAN:GSAT) last posted its quarterly earnings results on Thursday, November 2nd. The Wireless communications provider reported $0.04 earnings per share (EPS) for the quarter, topping the 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%.

Separately, BidaskClub raised shares of Globalstar from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 12th.

In other news, CEO James Monroe III bought 27,607,656 shares of the stock in a transaction that occurred on Wednesday, October 11th. The stock was purchased at an average price of $1.57 per share, for a total transaction of $43,344,019.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

An institutional investor recently raised its position in Globalstar stock. Private Advisor Group LLC boosted its stake in shares of Globalstar, Inc. (NYSEAMERICAN:GSAT) by 650.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 filing with the Securities and Exchange Commission.

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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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