Rebecca Clary Sells 16,316 Shares of Globalstar (NASDAQ:GSAT) Stock

Globalstar, Inc. (NASDAQ:GSAT) CFO Rebecca Clary sold 16,316 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $58.32, for a total transaction of $951,549.12. Following the completion of the transaction, the chief financial officer owned 98,374 shares of the company’s stock, valued at approximately $5,737,171.68. This represents a 14.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, November 14th, Rebecca Clary sold 1,188 shares of Globalstar stock. The shares were sold at an average price of $60.84, for a total transaction of $72,277.92.
• 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 transaction of $3,435.04.
• On Thursday, November 6th, Rebecca Clary sold 4,572 shares of Globalstar stock. The stock was sold at an average price of $48.31, for a total transaction of $220,873.32.
• On Thursday, October 16th, Rebecca Clary sold 4,333 shares of Globalstar stock. The shares were sold at an average price of $44.43, for a total value 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 value 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 value of $159,430.25.

Globalstar Trading Up 2.1%

Shares of GSAT stock opened at $60.44 on Wednesday. The company has a quick ratio of 2.72, a current ratio of 2.81 and a debt-to-equity ratio of 1.30. Globalstar, Inc. has a 12-month low of $17.24 and a 12-month high of $65.52. The business’s 50 day simple moving average is $44.01. The stock has a market capitalization of $7.67 billion, a P/E ratio of -134.31 and a beta of 1.00.

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

Wall Street Analysts Forecast Growth

GSAT has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Globalstar in a report 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 price target 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 investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $75.00.

Institutional Investors Weigh In On Globalstar

A number of large investors have recently modified their holdings of the business. US Bancorp DE lifted its stake in shares of Globalstar by 610.7% in the third quarter. US Bancorp DE now owns 931 shares of the company’s stock worth $34,000 after buying an additional 800 shares in the last quarter. Fortitude Family Office LLC purchased a new stake in Globalstar during the 3rd quarter valued at about $37,000. Advisory Services Network LLC acquired a new stake in Globalstar in the 3rd quarter valued at about $40,000. Dakota Community Bank & Trust NA acquired a new stake in Globalstar in the 3rd quarter valued at about $46,000. Finally, CWM LLC lifted its stake in Globalstar by 100.6% in the 3rd quarter. CWM LLC now owns 1,324 shares of the company’s stock worth $48,000 after purchasing an additional 664 shares in the last quarter. Hedge funds and other institutional investors own 18.89% of the company’s stock.

About Globalstar

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.