Globalstar (NYSEAMERICAN:GSAT) Shares Gap Up – Should You Buy?

Posted by Max Byerly on Jan 2nd, 2025

Globalstar, Inc. (NYSEAMERICAN:GSAT – Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $2.17, but opened at $2.22. Globalstar shares last traded at $2.08, with a volume of 7,977,959 shares changing hands.

Analyst Ratings Changes

Separately, Craig Hallum boosted their price target on Globalstar from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Monday, November 4th.

Read Our Latest Stock Analysis on GSAT

Globalstar Trading Down 4.6 %

The company’s fifty day moving average price is $1.25 and its two-hundred day moving average price is $1.24. The company has a quick ratio of 0.95, a current ratio of 1.04 and a debt-to-equity ratio of 0.94. The company has a market cap of $3.93 billion, a price-to-earnings ratio of -69.00 and a beta of 0.88.

Institutional Investors Weigh In On Globalstar

A number of large investors have recently added to or reduced their stakes in GSAT. PFG Investments LLC boosted its stake in Globalstar by 83.3% during the 2nd quarter. PFG Investments LLC now owns 22,000 shares of the company’s stock valued at $25,000 after purchasing an additional 10,000 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in shares of Globalstar during the third quarter worth $27,000. XTX Topco Ltd purchased a new stake in shares of Globalstar in the second quarter worth $31,000. Panagora Asset Management Inc. bought a new position in Globalstar in the second quarter valued at $35,000. Finally, Tokio Marine Asset Management Co. Ltd. bought a new position in Globalstar in the third quarter valued at $39,000. Institutional investors and hedge funds own 18.89% of the company’s stock.

About Globalstar

(Get Free Report)

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.