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

Globalstar, Inc. (NYSEAMERICAN:GSAT) was the recipient of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 75,073,533 shares, a drop of 8.7% from the November 30th total of 82,240,405 shares. Currently, 12.4% of the company’s shares are short sold. Based on an average daily volume of 6,282,540 shares, the short-interest ratio is currently 11.9 days.

In related news, CEO James Monroe III sold 38,000,000 shares of Globalstar stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $1.16, for a total value of $44,080,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

An institutional investor recently raised its position in Globalstar stock. Private Advisor Group LLC lifted its position in shares of Globalstar, Inc. (NYSEAMERICAN:GSAT) by 650.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,000 shares of the Wireless communications provider’s stock after purchasing an additional 65,000 shares during the period. Private Advisor Group LLC’s holdings in Globalstar were worth $122,000 at the end of the most recent reporting period.

Several research firms have commented on GSAT. BidaskClub upgraded shares of Globalstar from a “strong sell” rating to a “sell” rating in a research note on Monday, September 18th. TheStreet upgraded shares of Globalstar from a “d” rating to a “c-” rating in a research note on Monday, November 13th.

Globalstar (GSAT) traded down $0.01 during trading on Wednesday, hitting $1.30. 2,998,864 shares of the stock traded hands, compared to its average volume of 5,265,257. The stock has a market cap of $1,650.00, a PE ratio of -7.65 and a beta of 2.49. Globalstar has a 1-year low of $1.11 and a 1-year high of $2.59.

Globalstar (NYSEAMERICAN:GSAT) last released its quarterly earnings data on Thursday, November 2nd. The Wireless communications provider reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.06. The business had revenue of $30.46 million during the quarter. Globalstar had a net margin of 172.06% and a return on equity of 145.71%.

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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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