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

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.

Several institutional investors have recently modified their holdings of GSAT. BlackRock Inc. raised its position in shares of Globalstar by 17.2% in the 4th quarter. BlackRock Inc. now owns 42,666,783 shares of the Wireless communications provider’s stock worth $55,894,000 after buying an additional 6,272,280 shares during the period. Bank of New York Mellon Corp raised its position in shares of Globalstar by 7.7% in the 4th quarter. Bank of New York Mellon Corp now owns 3,179,733 shares of the Wireless communications provider’s stock worth $4,165,000 after buying an additional 228,453 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Globalstar by 22.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 458,894 shares of the Wireless communications provider’s stock worth $601,000 after buying an additional 84,031 shares during the period. Swiss National Bank raised its position in shares of Globalstar by 12.2% in the 4th quarter. Swiss National Bank now owns 917,554 shares of the Wireless communications provider’s stock worth $1,202,000 after buying an additional 100,000 shares during the period. Finally, Teacher Retirement System of Texas raised its position in shares of Globalstar by 360.4% in the 4th quarter. Teacher Retirement System of Texas now owns 185,863 shares of the Wireless communications provider’s stock worth $243,000 after buying an additional 145,490 shares during the period.

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.

COPYRIGHT VIOLATION NOTICE: This story was first posted by Community Financial News and is owned by of Community Financial News. If you are viewing this story on another site, it was stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this story can be read at https://www.com-unik.info/2018/02/09/globalstar-inc-gsat-sees-significant-decrease-in-short-interest-3.html.

About Globalstar

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.

Receive News & Ratings for Globalstar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globalstar and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit