Globalstar (NYSEAMERICAN:GSAT) Trading Up 3.2%

Globalstar, Inc. (NYSEAMERICAN:GSAT) shares were up 3.2% during mid-day trading on Tuesday . The stock traded as high as $1.31 and last traded at $1.30. Approximately 2,127,154 shares traded hands during mid-day trading, a decline of 50% from the average daily volume of 4,258,467 shares. The stock had previously closed at $1.26.

Globalstar Price Performance

The stock has a market cap of $2.34 billion, a price-to-earnings ratio of -11.82 and a beta of 0.53. The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 0.97.

Globalstar (NYSEAMERICAN:GSAT) last announced its quarterly earnings results on Wednesday, February 28th. The company reported ($0.01) earnings per share for the quarter. The company had revenue of $52.41 million during the quarter, compared to analysts’ expectations of $53.06 million. Globalstar had a negative net margin of 112.72% and a negative return on equity of 76.89%. As a group, analysts anticipate that Globalstar, Inc. will post -0.01 EPS for the current year.

Hedge Funds Weigh In On Globalstar

A hedge fund recently raised its stake in Globalstar stock. SG Americas Securities LLC increased its stake in Globalstar, Inc. (NYSEAMERICAN:GSAT) by 135.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,801 shares of the company’s stock after acquiring an additional 16,587 shares during the period. SG Americas Securities LLC’s holdings in Globalstar were worth $38,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 17.15% of the company’s stock.

About Globalstar

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.