Globalstar, Inc. (GSAT) Short Interest Update

Globalstar, Inc. (NYSEAMERICAN:GSAT) was the recipient of a significant growth in short interest in November. As of November 30th, there was short interest totalling 82,240,405 shares, a growth of 1.3% from the November 15th total of 81,223,964 shares. Based on an average daily trading volume, of 3,526,222 shares, the short-interest ratio is currently 23.3 days. Currently, 12.1% of the shares of the stock are short sold.

Several research firms have recently issued reports on GSAT. BidaskClub raised shares of Globalstar from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 12th. TheStreet raised shares of Globalstar from a “d” rating to a “c-” rating in a research note on Monday, November 13th.

In other Globalstar news, CEO James Monroe III purchased 27,607,656 shares of the company’s stock in a transaction dated Wednesday, October 11th. The stock was purchased at an average price of $1.57 per share, with a total value of $43,344,019.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

An institutional investor recently raised its position in Globalstar stock. Private Advisor Group LLC increased its position in shares of Globalstar, Inc. (NYSEAMERICAN:GSAT) by 650.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 75,000 shares of the Wireless communications provider’s stock after buying an additional 65,000 shares during the period. Private Advisor Group LLC’s holdings in Globalstar were worth $122,000 at the end of the most recent reporting period.

Globalstar (NYSEAMERICAN GSAT) traded down $0.02 during mid-day trading on Monday, hitting $1.31. 3,968,418 shares of the stock traded hands, compared to its average volume of 5,253,701. Globalstar has a 12-month low of $0.83 and a 12-month high of $2.59.

Globalstar (NYSEAMERICAN:GSAT) last released its quarterly earnings results on Thursday, November 2nd. The Wireless communications provider reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.06. Globalstar had a net margin of 172.06% and a return on equity of 145.71%. The firm had revenue of $30.46 million during the quarter.

WARNING: “Globalstar, Inc. (GSAT) Short Interest Update” was first posted by American Banking News and is owned by of American Banking News. If you are reading this piece on another publication, it was copied illegally and reposted in violation of U.S. & international copyright & trademark law. The original version of this piece can be viewed at https://www.americanbankingnews.com/2017/12/11/globalstar-inc-gsat-short-interest-update-2.html.

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.

Receive News & Ratings for Globalstar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globalstar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply