Globalstar (NASDAQ:GSAT) Upgraded at Zacks Research

Zacks Research upgraded shares of Globalstar (NASDAQ:GSAT) from a strong sell rating to a hold rating in a report released on Wednesday morning,Zacks.com reports.

GSAT has been the topic of a number of other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Globalstar in a research report on Monday, December 29th. Deutsche Bank Aktiengesellschaft initiated coverage on Globalstar in a research note on Tuesday, December 16th. They set a “hold” rating and a $62.00 price target on the stock. Finally, Craig Hallum restated a “buy” rating and set a $70.00 price target on shares of Globalstar in a report on Monday, March 2nd. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $69.00.

Globalstar Stock Performance

Shares of Globalstar stock opened at $77.73 on Wednesday. The firm has a market cap of $9.99 billion, a P/E ratio of -518.17, a P/E/G ratio of 126.91 and a beta of 1.46. The company has a debt-to-equity ratio of 1.27, a current ratio of 2.42 and a quick ratio of 2.37. The firm has a 50 day simple moving average of $61.26 and a 200 day simple moving average of $56.73. Globalstar has a fifty-two week low of $17.24 and a fifty-two week high of $78.30.

Insider Transactions at Globalstar

In other news, General Counsel L Barbee Iv Ponder sold 682 shares of the company’s stock in a transaction on 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 sale, the general counsel owned 143,348 shares in the company, valued at $8,215,273.88. This represents a 0.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Paul E. Jacobs sold 714 shares of the stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $59.56, for a total transaction of $42,525.84. Following the completion of the sale, the chief executive officer owned 67,032 shares of the company’s stock, valued at approximately $3,992,425.92. This represents a 1.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,999 shares of company stock valued at $293,646 over the last ninety days. 61.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Globalstar

Several hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of Globalstar by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,106 shares of the company’s stock worth $1,219,000 after acquiring an additional 248 shares during the period. Clearstead Trust LLC lifted its position in shares of Globalstar by 20.7% during the fourth quarter. Clearstead Trust LLC now owns 2,131 shares of the company’s stock worth $130,000 after acquiring an additional 366 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA purchased a new stake in shares of Globalstar during the fourth quarter worth $26,000. NewEdge Advisors LLC lifted its position in shares of Globalstar by 85.1% during the fourth quarter. NewEdge Advisors LLC now owns 935 shares of the company’s stock worth $57,000 after acquiring an additional 430 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new position in shares of Globalstar in the fourth quarter worth $27,000. Institutional investors own 18.89% of the company’s stock.

More Globalstar News

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)

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.