Globalstar (NASDAQ:GSAT) Reaches New 52-Week High on Analyst Upgrade

Shares of Globalstar, Inc. (NASDAQ:GSAT) reached a new 52-week high during mid-day trading on Thursday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The company traded as high as $77.74 and last traded at $74.5220, with a volume of 1344948 shares traded. The stock had previously closed at $68.53.

A number of other research firms also recently weighed in on GSAT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Globalstar in a research note on Monday, December 29th. Deutsche Bank Aktiengesellschaft started coverage on Globalstar in a report on Tuesday, December 16th. They issued a “hold” rating and a $62.00 target price on the stock. Finally, Craig Hallum restated a “buy” rating and set a $70.00 price target on shares of Globalstar in a research note on Monday, March 2nd. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $69.00.

Insider Buying and Selling at Globalstar

In other Globalstar news, General Counsel L Barbee Iv Ponder sold 682 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $57.31, for a total value of $39,085.42. Following the completion of the transaction, the general counsel directly owned 143,348 shares in the company, valued at approximately $8,215,273.88. The trade was a 0.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Paul E. Jacobs sold 1,153 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $57.31, for a total value of $66,078.43. Following the transaction, the chief executive officer directly owned 61,080 shares in the company, valued at approximately $3,500,494.80. The trade was a 1.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,999 shares of company stock worth $293,646 over the last quarter. Insiders own 61.00% of the company’s stock.

Globalstar News Summary

Here are the key news stories impacting Globalstar this week:

• Positive Sentiment: Reports that Amazon is in talks to buy Globalstar — reportedly a possible ~$9 billion deal — are the primary catalyst, driving takeover-premium expectations and strategic value for Amazon’s satellite ambitions. Amazon in talks to buy $9 billion Globalstar (Reuters)
• Positive Sentiment: Multiple outlets report large intraday gains (double-digit moves) on the takeover speculation, signaling strong market appetite and elevated trading volume as investors price in an acquisition. Globalstar stock surges 15% on Amazon report (CNBC)
• Positive Sentiment: Analyst movement: Zacks upgraded Globalstar from “strong sell” to “hold,” which may reduce near-term selling pressure and supports the rally. Zacks upgrade (Zacks.com)
• Neutral Sentiment: Coverage emphasizes the strategic value of Globalstar’s spectrum and hardware to Amazon’s satellite internet plans; this frames the deal as more about spectrum access than only terminals. Amazon’s Globalstar play about spectrum (Bloomberg via 247WallSt)
• Neutral Sentiment: Wider media discussion highlights a potential “spectrum war” with SpaceX’s Starlink, underscoring strategic rivalry but not guaranteeing a transaction. Spectrum rivalry context (247WallSt)
• Negative Sentiment: Reports note ongoing negotiation complexities between the parties; a messy or failed deal would likely trigger a sharp pullback from takeover-driven levels. Deal negotiation complexities (CNBC)
• Negative Sentiment: Valuation risk: GSAT has already run a long way (multi‑hundred‑percent gains over the past year); elevated expectations mean any setback could prompt profit-taking. Valuation and long run-up (MSN)

Institutional Trading of Globalstar

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Globalstar by 1.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 18,106 shares of the company’s stock worth $1,219,000 after buying an additional 248 shares during the last quarter. Clearstead Trust LLC boosted its position in Globalstar by 20.7% in the 4th quarter. Clearstead Trust LLC now owns 2,131 shares of the company’s stock worth $130,000 after purchasing an additional 366 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in shares of Globalstar during the 4th quarter worth approximately $26,000. NewEdge Advisors LLC lifted its stake in shares of Globalstar by 85.1% in the 4th quarter. NewEdge Advisors LLC now owns 935 shares of the company’s stock valued at $57,000 after purchasing an additional 430 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in Globalstar during the fourth quarter worth $27,000. Institutional investors and hedge funds own 18.89% of the company’s stock.

Globalstar Stock Performance

The company has a quick ratio of 2.37, a current ratio of 2.42 and a debt-to-equity ratio of 1.27. The business’s 50-day simple moving average is $61.26 and its two-hundred day simple moving average is $56.73. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of -518.17, a P/E/G ratio of 126.91 and a beta of 1.46.

About Globalstar

Globalstar, Inc is a leading provider of mobile satellite voice and data communications services. Through a network of low Earth orbit (LEO) satellites, the company delivers reliable satellite connectivity to users in remote or underserved regions where terrestrial networks are unavailable or unreliable. Its product portfolio includes satellite phones, two-way satellite data modems and Internet of Things (IoT) devices designed for tracking, monitoring and emergency notification.

Founded in 1991 as a joint venture between Loral and Qualcomm, Globalstar launched its first fleet of 48 satellites between 1998 and 2000.