Globalstar, Inc. (GSAT) Short Interest Down 6.8% in December

Globalstar, Inc. (NYSEAMERICAN:GSAT) was the recipient of a large drop in short interest in the month of December. As of December 29th, there was short interest totalling 69,956,981 shares, a drop of 6.8% from the December 15th total of 75,073,533 shares. Approximately 11.5% of the company’s shares are sold short. Based on an average 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 the stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $1.16, for a total transaction of $44,080,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

A hedge fund recently raised its stake in Globalstar stock. Private Advisor Group LLC lifted its stake in shares of Globalstar, Inc. (NYSEAMERICAN:GSAT) by 650.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,000 shares of the Wireless communications provider’s stock after purchasing an additional 65,000 shares during the quarter. 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 $0.01 during mid-day trading on Wednesday, hitting $1.24. 1,187,000 shares of the stock were exchanged, compared to its average volume of 3,253,267. The company has a market cap of $1,600.00, a PE ratio of -7.29 and a beta of 2.48. Globalstar has a one year low of $1.11 and a one year high of $2.59.

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

GSAT has been the topic of a number of research analyst reports. TheStreet raised shares of Globalstar from a “d” rating to a “c-” rating in a research report on Monday, November 13th. BidaskClub raised shares of Globalstar from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 12th.

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About Globalstar

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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