Globalstar, Inc. (NYSE:GSAT - Get Free Report) CFO Rebecca Clary sold 37,688 shares of the business's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $2.13, for a total value of $80,275.44. Following the completion of the sale, the chief financial officer now owns 1,396,027 shares in the company, valued at $2,973,537.51. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Globalstar Stock Performance
GSAT stock traded down $0.07 during trading on Wednesday, hitting $2.22. 37,064,699 shares of the company's stock traded hands, compared to its average volume of 7,745,360. Globalstar, Inc. has a 52 week low of $1.00 and a 52 week high of $2.74. The firm has a market capitalization of $4.20 billion, a PE ratio of -74.00 and a beta of 1.10. The firm has a fifty day simple moving average of $1.91. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd purchased a new stake in Globalstar during the third quarter valued at approximately $56,000. Sender Co & Partners Inc. bought a new position in shares of Globalstar during the 3rd quarter valued at approximately $106,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in Globalstar by 1,000.5% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 129,644 shares of the company's stock valued at $161,000 after buying an additional 117,864 shares during the period. BNP Paribas Financial Markets lifted its position in Globalstar by 26.4% in the third quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company's stock worth $407,000 after buying an additional 68,599 shares during the last quarter. Finally, XTX Topco Ltd boosted its stake in Globalstar by 3,472.7% during the third quarter. XTX Topco Ltd now owns 976,353 shares of the company's stock worth $1,211,000 after buying an additional 949,025 shares during the period. Institutional investors own 18.89% of the company's stock.
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Separately, StockNews.com raised Globalstar from a "sell" rating to a "hold" rating in a report on Monday, November 11th.
Check Out Our Latest Stock Report on Globalstar
About Globalstar
(
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GLOBALSTAR INC offers satellite voice and data services to commercial and recreational users in more than 120 countries around the world. Globalstar's products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service.
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