Globalstar (NYSE:GSAT) Shares Up 4.2%

Shares of Globalstar, Inc. (NYSE:GSAT) were up 4.2% during trading on Thursday . The stock traded as high as $1.11 and last traded at $1.11. Approximately 2,203,833 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 3,001,960 shares. The stock had previously closed at $1.06.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Globalstar from a “hold” rating to a “sell” rating in a research note on Thursday, February 29th.

Globalstar Price Performance

The company has a 50-day moving average of $1.09 and a two-hundred day moving average of $1.22. The stock has a market capitalization of $2.11 billion, a PE ratio of -55.50 and a beta of 0.82. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.00 and a quick ratio of 0.90.

Globalstar (NYSE:GSAT) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.01) EPS for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $56.48 million for the quarter, compared to the consensus estimate of $52.92 million. Globalstar had a negative return on equity of 11.66% and a negative net margin of 19.14%. Sell-side analysts predict that Globalstar, Inc. will post -0.02 EPS for the current fiscal year.

Institutional Investors Weigh In On Globalstar

A number of large investors have recently modified their holdings of the stock. American International Group Inc. grew its stake in shares of Globalstar by 2.5% in the first quarter. American International Group Inc. now owns 357,070 shares of the company’s stock valued at $525,000 after buying an additional 8,706 shares in the last quarter. Intellectus Partners LLC grew its stake in Globalstar by 5.0% during the 4th quarter. Intellectus Partners LLC now owns 188,210 shares of the company’s stock valued at $365,000 after purchasing an additional 9,000 shares in the last quarter. FMR LLC grew its stake in Globalstar by 0.3% during the 3rd quarter. FMR LLC now owns 3,375,719 shares of the company’s stock valued at $4,422,000 after purchasing an additional 10,491 shares in the last quarter. Abel Hall LLC acquired a new stake in Globalstar during the 4th quarter valued at approximately $26,000. Finally, ProShare Advisors LLC grew its stake in Globalstar by 12.2% during the 1st quarter. ProShare Advisors LLC now owns 130,174 shares of the company’s stock valued at $191,000 after purchasing an additional 14,166 shares in the last quarter. Institutional investors and hedge funds own 18.89% of the company’s stock.

Globalstar Company Profile

Globalstar, Inc provides mobile satellite services in the United States, Canada, Europe, Central and South America, and internationally. 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.