Globalstar (NYSE:GSAT) Trading Down 1.4% – Should You Sell?

Globalstar, Inc. (NYSE:GSAT) traded down 1.4% during trading on Thursday . The stock traded as low as $1.03 and last traded at $1.06. 3,299,185 shares were traded during mid-day trading, an increase of 9% from the average session volume of 3,014,860 shares. The stock had previously closed at $1.07.

Globalstar Price Performance

The stock has a market cap of $2.00 billion, a P/E ratio of -35.00 and a beta of 0.85. The company has a 50 day simple moving average of $1.15 and a 200 day simple moving average of $1.21. The company has a current ratio of 1.04, a quick ratio of 0.95 and a debt-to-equity ratio of 0.94.

Globalstar (NYSE:GSAT) last released its earnings results on Thursday, August 8th. The company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). The firm had revenue of $60.39 million for the quarter, compared to analysts’ expectations of $57.49 million. Globalstar had a negative return on equity of 13.69% and a negative net margin of 22.96%. Sell-side analysts forecast that Globalstar, Inc. will post -0.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Globalstar news, VP Timothy Evan Taylor sold 395,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $1.22, for a total transaction of $481,900.00. Following the transaction, the vice president now owns 10,278,649 shares of the company’s stock, valued at $12,539,951.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP Timothy Evan Taylor sold 395,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $1.22, for a total transaction of $481,900.00. Following the transaction, the vice president now directly owns 10,278,649 shares of the company’s stock, valued at approximately $12,539,951.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rebecca Clary sold 75,000 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $1.25, for a total value of $93,750.00. Following the completion of the transaction, the chief financial officer now directly owns 1,418,745 shares in the company, valued at approximately $1,773,431.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 61.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Globalstar by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 71,739,532 shares of the company’s stock valued at $139,175,000 after acquiring an additional 2,547,398 shares during the period. Principal Financial Group Inc. raised its position in Globalstar by 412.0% in the first quarter. Principal Financial Group Inc. now owns 416,145 shares of the company’s stock valued at $612,000 after purchasing an additional 334,860 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Globalstar by 15.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 811,758 shares of the company’s stock valued at $1,193,000 after purchasing an additional 106,663 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Globalstar by 13.1% in the first quarter. BNP Paribas Financial Markets now owns 586,606 shares of the company’s stock valued at $862,000 after buying an additional 67,800 shares during the period. Finally, Empowered Funds LLC acquired a new stake in shares of Globalstar in the first quarter valued at about $26,000. 18.89% of the stock is owned by institutional investors and hedge funds.

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.