Globalstar (NYSEAMERICAN:GSAT) was the recipient of a significant growth in short interest in April. As of April 13th, there was short interest totalling 86,799,863 shares, a growth of 6.9% from the March 30th total of 81,207,186 shares. Based on an average daily volume of 6,541,037 shares, the short-interest ratio is currently 13.3 days. Currently, 14.4% of the company’s shares are sold short.

NYSEAMERICAN:GSAT traded down $0.06 during trading hours on Tuesday, hitting $0.72. The stock had a trading volume of 3,563,010 shares, compared to its average volume of 4,163,322. Globalstar has a one year low of $0.53 and a one year high of $2.59.

Globalstar (NYSEAMERICAN:GSAT) last issued its earnings results on Thursday, February 22nd. The Wireless communications provider reported ($0.02) EPS for the quarter. Globalstar had a net margin of 172.06% and a return on equity of 145.71%. The firm had revenue of $29.43 million during the quarter.

Several brokerages have commented on GSAT. Morgan Stanley began coverage on shares of Globalstar in a research note on Wednesday, April 11th. They issued an “equal weight” rating and a $0.70 target price for the company. TheStreet downgraded shares of Globalstar from a “c-” rating to a “d+” rating in a research note on Friday, February 2nd.

Large investors have recently modified their holdings of the business. Teacher Retirement System of Texas increased its position in shares of Globalstar by 360.4% during the fourth quarter. Teacher Retirement System of Texas now owns 185,863 shares of the Wireless communications provider’s stock worth $243,000 after acquiring an additional 145,490 shares in the last quarter. MetLife Investment Advisors LLC bought a new stake in shares of Globalstar during the fourth quarter worth $350,000. American International Group Inc. increased its position in shares of Globalstar by 28.8% during the fourth quarter. American International Group Inc. now owns 383,484 shares of the Wireless communications provider’s stock worth $502,000 after acquiring an additional 85,652 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Globalstar by 22.4% during the fourth quarter. The Manufacturers Life Insurance Company now owns 458,894 shares of the Wireless communications provider’s stock worth $601,000 after acquiring an additional 84,031 shares in the last quarter. Finally, Sound Point Capital Management LP bought a new stake in shares of Globalstar during the fourth quarter worth $819,000.

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About Globalstar

Globalstar, Inc provides mobile satellite voice and data services worldwide. The company offers duplex two-way voice and data products, including mobile voice and data satellite communications services and equipment for remote business continuity, recreational, emergency response, and other applications; fixed voice and data satellite communications services and equipment in rural villages, ships, industrial and commercial sites, and residential sites; and satellite data modem services comprising asynchronous and packet data services.

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