Globalstar (GSAT) Shares Gap Down to $1.33
Shares of Globalstar, Inc. (NYSEAMERICAN:GSAT) gapped down before the market opened on Tuesday . The stock had previously closed at $1.40, but opened at $1.33. Globalstar shares last traded at $1.31, with a volume of 6525300 shares.
GSAT has been the topic of a number of research analyst reports. BidaskClub raised shares of Globalstar from a “strong sell” rating to a “sell” rating in a report on Monday, September 18th. TheStreet upgraded shares of Globalstar from a “d” rating to a “c-” rating in a research report on Monday, November 13th.
The firm has a market capitalization of $1,650.00, a PE ratio of -7.88 and a beta of 2.49.
In related news, CEO James Monroe III sold 38,000,000 shares of the business’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $1.16, for a total value of $44,080,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
An institutional investor recently raised its position in Globalstar stock. Private Advisor Group LLC grew its stake in shares of Globalstar, Inc. (NYSEAMERICAN:GSAT) by 650.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,000 shares of the Wireless communications provider’s stock after acquiring 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 quarter.
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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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