Globalstar, Inc. (NYSE:GSAT) CFO Rebecca Clary Sells 37,688 Shares

Globalstar, Inc. (NYSE:GSAT) CFO Rebecca Clary sold 37,688 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $2.13, for a total transaction of $80,275.44. Following the transaction, the chief financial officer now owns 1,396,027 shares in the company, valued at $2,973,537.51. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Globalstar Stock Down 3.1 %

Globalstar stock traded down $0.07 during mid-day 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. The company has a 50 day moving average price of $1.91. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.99 and a current ratio of 1.09. The firm has a market cap of $4.20 billion, a P/E ratio of -74.00 and a beta of 1.10. Globalstar, Inc. has a one year low of $1.00 and a one year high of $2.74.

Analyst Ratings Changes

Separately, StockNews.com upgraded Globalstar from a “sell” rating to a “hold” rating in a research note on Monday, November 11th.

Institutional Trading of Globalstar

Hedge funds have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd bought a new position in shares of Globalstar in the 3rd quarter valued at approximately $56,000. Sender Co & Partners Inc. bought a new stake in Globalstar in the third quarter valued at about $106,000. Point72 Asia Singapore Pte. Ltd. lifted its position in shares of Globalstar by 1,000.5% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 129,644 shares of the company’s stock worth $161,000 after buying an additional 117,864 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Globalstar by 26.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company’s stock worth $407,000 after purchasing an additional 68,599 shares during the last quarter. Finally, XTX Topco Ltd raised its stake in shares of Globalstar by 3,472.7% in the third quarter. XTX Topco Ltd now owns 976,353 shares of the company’s stock valued at $1,211,000 after acquiring an additional 949,025 shares during the last quarter. 18.89% of the stock is owned by hedge funds and other institutional investors.

Globalstar Company Profile

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.