Globalstar (NYSEARCA:GSAT) Shares Gap Up – Should You Buy?

Globalstar, Inc. (NYSEARCA:GSAT) gapped up before the market opened on Monday . The stock had previously closed at $31.23, but opened at $32.82. Globalstar shares last traded at $36.40, with a volume of 1,409,895 shares changing hands.

Globalstar Stock Up 18.6%

The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91. The stock’s 50-day moving average price is $26.58 and its two-hundred day moving average price is $22.67. The stock has a market capitalization of $4.69 billion, a P/E ratio of -1,226.77 and a beta of 1.01.

Institutional Trading of Globalstar

Several institutional investors and hedge funds have recently bought and sold shares of GSAT. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Globalstar during the 4th quarter worth about $33,000. Mercer Global Advisors Inc. ADV raised its stake in shares of Globalstar by 4.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 20,912 shares of the company’s stock worth $43,000 after purchasing an additional 900 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its position in shares of Globalstar by 48.9% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 22,830 shares of the company’s stock valued at $47,000 after purchasing an additional 7,500 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Globalstar by 97.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 27,310 shares of the company’s stock valued at $57,000 after purchasing an additional 13,453 shares during the last quarter. Finally, GAMMA Investing LLC bought a new stake in shares of Globalstar in the first quarter worth approximately $57,000. 18.89% of the stock is currently owned by hedge funds and other institutional investors.

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.