Globalstar, Inc. (GSAT) Sees Significant Decrease in Short Interest

Globalstar, Inc. (NYSEAMERICAN:GSAT) saw a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 68,214,655 shares, a decline of 0.6% from the January 12th total of 68,623,538 shares. Based on an average daily volume of 2,430,007 shares, the short-interest ratio is currently 28.1 days. Approximately 11.2% of the shares of the company are sold short.

A number of equities research analysts recently weighed in on the company. TheStreet cut Globalstar from a “c-” rating to a “d+” rating in a report on Friday, February 2nd. BidaskClub upgraded Globalstar from a “strong sell” rating to a “sell” rating in a report on Thursday, October 12th.

Globalstar (NYSEAMERICAN:GSAT) traded down $0.08 on Friday, hitting $0.87. The company had a trading volume of 4,766,787 shares, compared to its average volume of 2,912,300. Globalstar has a 1-year low of $0.86 and a 1-year high of $2.59. The firm has a market cap of $1,240.00, a PE ratio of -5.12 and a beta of 1.54.

In other Globalstar news, CEO James Monroe III sold 38,000,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $1.16, for a total transaction of $44,080,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

A number of hedge funds have recently bought and sold shares of GSAT. Private Advisor Group LLC lifted its stake in Globalstar by 650.0% in the 3rd quarter. Private Advisor Group LLC now owns 75,000 shares of the Wireless communications provider’s stock valued at $122,000 after buying an additional 65,000 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Globalstar by 360.4% in the 4th quarter. Teacher Retirement System of Texas now owns 185,863 shares of the Wireless communications provider’s stock valued at $243,000 after buying an additional 145,490 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Globalstar by 22.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 458,894 shares of the Wireless communications provider’s stock valued at $601,000 after buying an additional 84,031 shares in the last quarter. Swiss National Bank lifted its stake in Globalstar by 12.2% in the 4th quarter. Swiss National Bank now owns 917,554 shares of the Wireless communications provider’s stock valued at $1,202,000 after buying an additional 100,000 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in Globalstar by 35.1% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 2,099,713 shares of the Wireless communications provider’s stock valued at $2,751,000 after buying an additional 545,789 shares in the last quarter.

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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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