Globalstar (NASDAQ:GSAT) CFO Sells $82,881.48 in Stock

Globalstar, Inc. (NASDAQ:GSAT) CFO Rebecca Clary sold 1,221 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $67.88, for a total transaction of $82,881.48. Following the completion of the transaction, the chief financial officer directly owned 102,297 shares in the company, valued at approximately $6,943,920.36. The trade was a 1.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Rebecca Clary also recently made the following trade(s):

• On Monday, December 1st, Rebecca Clary sold 4,380 shares of Globalstar stock. The shares were sold at an average price of $59.92, for a total value of $262,449.60.
• On Monday, November 17th, Rebecca Clary sold 16,316 shares of Globalstar stock. The stock was sold at an average price of $58.32, for a total value of $951,549.12.
• On Friday, November 14th, Rebecca Clary sold 1,188 shares of Globalstar stock. The shares were sold at an average price of $60.84, for a total value of $72,277.92.
• On Wednesday, November 12th, Rebecca Clary sold 56 shares of Globalstar stock. The shares were sold at an average price of $61.34, for a total value of $3,435.04.
• On Thursday, November 6th, Rebecca Clary sold 4,572 shares of Globalstar stock. The stock was sold at an average price of $48.31, for a total value of $220,873.32.
• On Thursday, October 16th, Rebecca Clary sold 4,333 shares of Globalstar stock. The stock was sold at an average price of $44.43, for a total transaction of $192,515.19.
• On Thursday, September 25th, Rebecca Clary sold 2,100 shares of Globalstar stock. The shares were sold at an average price of $35.01, for a total transaction of $73,521.00.
• On Monday, September 15th, Rebecca Clary sold 5,359 shares of Globalstar stock. The shares were sold at an average price of $29.75, for a total transaction of $159,430.25.

Globalstar Price Performance

GSAT stock opened at $70.28 on Thursday. The firm has a 50 day simple moving average of $53.19 and a two-hundred day simple moving average of $35.99. The stock has a market cap of $8.91 billion, a PE ratio of -152.78 and a beta of 1.08. Globalstar, Inc. has a one year low of $17.24 and a one year high of $71.84. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.53 and a quick ratio of 2.46.

Globalstar (NASDAQ:GSAT) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.02. Globalstar had a negative net margin of 21.07% and a negative return on equity of 3.67%. The firm had revenue of $73.85 million for the quarter. During the same quarter last year, the business posted $0.06 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on GSAT shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Globalstar in a research note on Tuesday, December 2nd. B. Riley raised their price objective on Globalstar from $60.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 10th. Finally, Zacks Research downgraded Globalstar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 7th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $75.00.

Hedge Funds Weigh In On Globalstar

Several institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE lifted its position in Globalstar by 610.7% in the third quarter. US Bancorp DE now owns 931 shares of the company’s stock valued at $34,000 after purchasing an additional 800 shares during the last quarter. Fortitude Family Office LLC purchased a new position in shares of Globalstar in the third quarter worth $37,000. Advisory Services Network LLC bought a new stake in Globalstar during the 3rd quarter valued at $40,000. Dakota Community Bank & Trust NA purchased a new stake in Globalstar during the 3rd quarter valued at $46,000. Finally, CWM LLC boosted its position in Globalstar by 100.6% during the 3rd quarter. CWM LLC now owns 1,324 shares of the company’s stock valued at $48,000 after buying an additional 664 shares during the period. 18.89% of the stock is currently owned by institutional investors.

About Globalstar

Globalstar, Inc provides mobile satellite 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 usage, safety, emergency preparedness and response, and other applications; fixed voice and data satellite communications services and equipment at industrial, commercial, and residential sites, as well as rural villages and ships; and data modem services and equipment.