Globalstar, Inc. (NYSEAMERICAN:GSAT)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $0.38, but opened at $0.38. Globalstar shares last traded at $0.37, with a volume of 29022 shares traded.

A number of equities analysts recently commented on GSAT shares. Zacks Investment Research upgraded Globalstar from a “sell” rating to a “hold” rating in a report on Tuesday, August 21st. Chardan Capital downgraded Globalstar from a “buy” rating to a “neutral” rating and set a $2.50 price objective on the stock. in a report on Thursday, August 9th.

Globalstar (NYSEAMERICAN:GSAT) last announced its quarterly earnings data on Thursday, November 1st. The Wireless communications provider reported ($0.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.02). The company had revenue of $35.69 million during the quarter.

A number of hedge funds have recently modified their holdings of the stock. Royal Bank of Canada lifted its position in Globalstar by 199.6% in the first quarter. Royal Bank of Canada now owns 211,032 shares of the Wireless communications provider’s stock worth $145,000 after purchasing an additional 140,596 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Globalstar by 7.2% during the third quarter. SG Americas Securities LLC now owns 2,506,197 shares of the Wireless communications provider’s stock valued at $1,273,000 after acquiring an additional 167,505 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of Globalstar during the second quarter valued at $109,000. Swiss National Bank lifted its holdings in shares of Globalstar by 20.3% during the second quarter. Swiss National Bank now owns 1,318,154 shares of the Wireless communications provider’s stock valued at $646,000 after acquiring an additional 222,800 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Globalstar by 5.5% during the first quarter. Millennium Management LLC now owns 5,792,267 shares of the Wireless communications provider’s stock valued at $3,982,000 after acquiring an additional 301,626 shares during the period.

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About Globalstar (NYSEAMERICAN:GSAT)

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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