Globalstar, Inc. (NYSEARCA:GSAT – Get Free Report)’s stock price was down 6% during trading on Tuesday . The company traded as low as $64.26 and last traded at $64.93. Approximately 509,037 shares were traded during mid-day trading, a decline of 43% from the average daily volume of 898,512 shares. The stock had previously closed at $69.05.
Globalstar Price Performance
The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.91. The company has a market cap of $7.44 billion, a price-to-earnings ratio of -1,954.67 and a beta of 1.08. The stock’s 50-day simple moving average is $55.58 and its 200 day simple moving average is $37.67.
Hedge Funds Weigh In On Globalstar
A number of hedge funds have recently made changes to their positions in GSAT. Cubist Systematic Strategies LLC acquired a new stake in Globalstar in the 1st quarter valued at $1,915,000. Beck Mack & Oliver LLC purchased a new stake in shares of Globalstar in the first quarter worth about $24,578,000. Long Focus Capital Management LLC acquired a new stake in shares of Globalstar in the first quarter valued at about $7,718,000. Ieq Capital LLC purchased a new stake in shares of Globalstar during the 1st quarter valued at about $213,000. Finally, American Century Companies Inc. raised its holdings in shares of Globalstar by 403.6% during the 1st quarter. American Century Companies Inc. now owns 727,173 shares of the company’s stock valued at $15,169,000 after buying an additional 582,776 shares during the period. Hedge funds and other institutional investors own 18.89% of the company’s stock.
Globalstar Company Profile
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.
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