Rebecca Clary Sells 1,188 Shares of Globalstar (NASDAQ:GSAT) Stock

Globalstar, Inc. (NASDAQ:GSAT) CFO Rebecca Clary sold 1,188 shares of Globalstar stock in a transaction on Friday, November 14th. The shares were sold at an average price of $60.84, for a total value of $72,277.92. Following the completion of the transaction, the chief financial officer owned 114,690 shares of the company’s stock, valued at approximately $6,977,739.60. The trade was a 1.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Rebecca Clary also recently made the following trade(s):

• On Monday, November 17th, Rebecca Clary sold 16,316 shares of Globalstar stock. The stock was sold at an average price of $58.32, for a total value of $951,549.12.
• On Wednesday, November 12th, Rebecca Clary sold 56 shares of Globalstar stock. The shares were sold at an average price of $61.34, for a total value of $3,435.04.
• On Thursday, November 6th, Rebecca Clary sold 4,572 shares of Globalstar stock. The shares were sold at an average price of $48.31, for a total value of $220,873.32.
• On Thursday, October 16th, Rebecca Clary sold 4,333 shares of Globalstar stock. The stock was sold at an average price of $44.43, for a total transaction of $192,515.19.
• On Thursday, September 25th, Rebecca Clary sold 2,100 shares of Globalstar stock. The shares were sold at an average price of $35.01, for a total transaction of $73,521.00.
• On Monday, September 15th, Rebecca Clary sold 5,359 shares of Globalstar stock. The stock was sold at an average price of $29.75, for a total transaction of $159,430.25.

Globalstar Trading Up 2.1%

Shares of GSAT stock opened at $60.44 on Wednesday. Globalstar, Inc. has a 1 year low of $17.24 and a 1 year high of $65.52. The company has a debt-to-equity ratio of 1.30, a current ratio of 2.81 and a quick ratio of 2.72. The business’s 50 day moving average is $44.01. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of -134.31 and a beta of 1.00.

Globalstar (NASDAQ:GSAT) last issued 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. Globalstar had a negative net margin of 17.80% and a negative return on equity of 1.17%. The business had revenue of $73.85 million during the quarter. During the same period in the prior year, the business earned $0.06 EPS. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Globalstar has set its FY 2025 guidance at EPS.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GSAT. PNC Financial Services Group Inc. raised its stake in Globalstar by 2.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 24,622 shares of the company’s stock worth $896,000 after buying an additional 540 shares during the period. HighTower Advisors LLC grew its stake in Globalstar by 0.8% in the third quarter. HighTower Advisors LLC now owns 71,880 shares of the company’s stock valued at $2,616,000 after acquiring an additional 546 shares during the period. Cannell Capital LLC increased its holdings in shares of Globalstar by 1.1% in the second quarter. Cannell Capital LLC now owns 51,320 shares of the company’s stock worth $1,209,000 after acquiring an additional 580 shares in the last quarter. CWM LLC raised its position in shares of Globalstar by 100.6% during the third quarter. CWM LLC now owns 1,324 shares of the company’s stock worth $48,000 after purchasing an additional 664 shares during the period. Finally, KLP Kapitalforvaltning AS lifted its holdings in shares of Globalstar by 7.4% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 10,120 shares of the company’s stock valued at $368,000 after purchasing an additional 700 shares in the last quarter. Institutional investors and hedge funds own 18.89% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on GSAT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Globalstar in a research note on Wednesday, October 8th. Zacks Research downgraded shares of Globalstar from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 7th. Finally, B. Riley raised their target price on shares of Globalstar from $60.00 to $75.00 and gave the company a “buy” rating in a research note on Monday, November 10th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.