Globalstar (NYSE:GSAT) Stock Price Down 0.8% – Here’s Why

Globalstar, Inc. (NYSE:GSAT) shares traded down 0.8% on Thursday . The stock traded as low as $1.17 and last traded at $1.20. Approximately 2,452,598 shares traded hands during mid-day trading, a decline of 53% from the average session volume of 5,177,898 shares. The stock had previously closed at $1.21.

Globalstar Stock Performance

The business has a fifty day simple moving average of $1.20 and a two-hundred day simple moving average of $1.23. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.04 and a quick ratio of 0.95. The company has a market cap of $2.28 billion, a PE ratio of -60.00 and a beta of 0.85.

Globalstar (NYSE:GSAT) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $60.39 million during the quarter, compared to the consensus estimate of $57.49 million. Globalstar had a negative net margin of 22.96% and a negative return on equity of 13.69%. Research analysts anticipate that Globalstar, Inc. will post -0.02 earnings per share for the current year.

Insider Buying and Selling at Globalstar

In other Globalstar news, CFO Rebecca Clary sold 75,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $1.25, for a total value of $93,750.00. Following the completion of the sale, the chief financial officer now directly owns 1,418,745 shares of the company’s stock, valued at $1,773,431.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Timothy Evan Taylor sold 395,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $1.22, for a total transaction of $481,900.00. Following the transaction, the vice president now owns 10,278,649 shares in the company, valued at $12,539,951.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Rebecca Clary sold 75,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $1.25, for a total transaction of $93,750.00. Following the transaction, the chief financial officer now directly owns 1,418,745 shares of the company’s stock, valued at $1,773,431.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 61.00% of the stock is owned by corporate insiders.

Institutional Trading of Globalstar

Large investors have recently bought and sold shares of the company. Abel Hall LLC purchased a new position in Globalstar during the fourth quarter worth approximately $26,000. Empowered Funds LLC acquired a new stake in Globalstar during the first quarter valued at approximately $26,000. Grant Street Asset Management Inc. acquired a new position in shares of Globalstar in the 1st quarter valued at about $29,000. PFG Investments LLC lifted its holdings in shares of Globalstar by 83.3% in the 2nd quarter. PFG Investments LLC now owns 22,000 shares of the company’s stock worth $25,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Second Line Capital LLC bought a new stake in Globalstar in the first quarter valued at $34,000. 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.