Globalstar, Inc. (NYSEAMERICAN:GSAT) was the recipient of a large decrease in short interest in January. As of January 31st, there was short interest totalling 68,214,655 shares, a decrease of 0.6% from the January 12th total of 68,623,538 shares. Currently, 11.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,430,007 shares, the days-to-cover ratio is currently 28.1 days.
Shares of Globalstar (NYSEAMERICAN GSAT) traded down $0.08 during trading on Friday, hitting $0.87. The company’s stock had a trading volume of 4,766,787 shares, compared to its average volume of 2,912,300. Globalstar has a one year low of $0.86 and a one year high of $2.59. The stock has a market cap of $1,240.00, a price-to-earnings ratio of -5.12 and a beta of 1.54.
In related news, CEO James Monroe III sold 38,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $1.16, for a total value of $44,080,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
A number of research analysts have weighed in on GSAT shares. BidaskClub raised Globalstar from a “strong sell” rating to a “sell” rating in a research note on Thursday, October 12th. TheStreet raised Globalstar from a “d” rating to a “c-” rating in a research note on Monday, November 13th.
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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