Globalstar (NASDAQ:GSAT) General Counsel L Barbee Iv Ponder Sells 9,790 Shares

Globalstar, Inc. (NASDAQ:GSAT) General Counsel L Barbee Iv Ponder sold 9,790 shares of Globalstar stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $58.32, for a total value of $570,952.80. Following the completion of the sale, the general counsel owned 135,658 shares of the company’s stock, valued at $7,911,574.56. This trade represents a 6.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

L Barbee Iv Ponder also recently made the following trade(s):

• On Wednesday, November 12th, L Barbee Iv Ponder sold 56 shares of Globalstar stock. The stock was sold at an average price of $61.34, for a total transaction of $3,435.04.

Globalstar Stock Performance

Globalstar stock traded down $3.76 during trading on Monday, reaching $59.19. The company had a trading volume of 1,190,309 shares, compared to its average volume of 911,229. Globalstar, Inc. has a 12-month low of $17.24 and a 12-month high of $65.52. The company has a quick ratio of 2.72, a current ratio of 2.81 and a debt-to-equity ratio of 1.30. The business’s 50 day moving average price is $43.54. The stock has a market capitalization of $7.51 billion, a price-to-earnings ratio of -131.53 and a beta of 1.00.

Globalstar (NASDAQ:GSAT) last announced its quarterly earnings results on Thursday, November 6th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. The company had revenue of $73.85 million for the quarter. Globalstar had a negative net margin of 17.80% and a negative return on equity of 1.17%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.06 EPS. Globalstar has set its FY 2025 guidance at EPS.

Institutional Investors Weigh In On Globalstar

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Globalstar by 2.8% in the 3rd quarter. Vanguard Group Inc. now owns 5,233,721 shares of the company’s stock worth $190,455,000 after acquiring an additional 141,451 shares during the period. Greenhouse Funds LLLP lifted its position in shares of Globalstar by 6.1% during the third quarter. Greenhouse Funds LLLP now owns 2,149,192 shares of the company’s stock worth $78,209,000 after purchasing an additional 123,676 shares in the last quarter. Ashford Capital Management Inc. boosted its stake in shares of Globalstar by 3.8% in the third quarter. Ashford Capital Management Inc. now owns 1,409,321 shares of the company’s stock valued at $51,285,000 after purchasing an additional 51,703 shares during the period. Senvest Management LLC grew its holdings in Globalstar by 51.6% during the 2nd quarter. Senvest Management LLC now owns 1,330,533 shares of the company’s stock valued at $31,334,000 after purchasing an additional 452,624 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Globalstar by 1.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,274,523 shares of the company’s stock worth $30,019,000 after buying an additional 20,514 shares during the period. 18.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GSAT has been the subject of several research analyst reports. Zacks Research lowered Globalstar from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Globalstar in a research report on Wednesday, October 8th. Finally, B. Riley lifted their price target on shares of Globalstar from $60.00 to $75.00 and gave the company a “buy” rating in a research report on Monday, November 10th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $75.00.

Globalstar Company Profile

Globalstar, Inc provides mobile satellite services worldwide. 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; fixed voice and data satellite communications services and equipment at industrial, commercial, and residential sites, as well as rural villages and ships; and data modem services and equipment.