Globalstar, Inc. (NYSE:GSAT - Get Free Report)'s stock price dropped 5.8% during mid-day trading on Monday . The company traded as low as $1.13 and last traded at $1.13. Approximately 3,048,830 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 4,033,073 shares. The stock had previously closed at $1.20.
The firm has a market cap of $2.13 billion, a PE ratio of -56.00 and a beta of 0.85. The company has a current ratio of 1.04, a quick ratio of 0.95 and a debt-to-equity ratio of 0.94. The stock's 50 day simple moving average is $1.20.
Globalstar (NYSE:GSAT - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.01). The firm had revenue of $60.39 million during the quarter, compared to the consensus estimate of $57.49 million. Globalstar had a negative return on equity of 13.69% and a negative net margin of 22.96%. On average, sell-side analysts predict that Globalstar, Inc. will post -0.02 earnings per share for the current fiscal year.
In other news, CFO Rebecca Clary sold 75,000 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $1.25, for a total transaction of $93,750.00. Following the transaction, the chief financial officer now owns 1,418,745 shares of the company's stock, valued at $1,773,431.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Timothy Evan Taylor sold 395,000 shares of the company's stock in a transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction, the chief financial officer now directly owns 1,418,745 shares in the company, valued at $1,773,431.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 61.00% of the company's stock.
A number of institutional investors have recently added to or reduced their stakes in GSAT. Ashford Capital Management Inc. lifted its holdings in Globalstar by 1,551.7% during the 1st quarter. Ashford Capital Management Inc. now owns 7,027,954 shares of the company's stock worth $10,331,000 after purchasing an additional 6,602,454 shares in the last quarter. Anson Funds Management LP lifted its holdings in Globalstar by 38.8% during the 1st quarter. Anson Funds Management LP now owns 10,835,267 shares of the company's stock worth $15,928,000 after purchasing an additional 3,028,923 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Globalstar by 3.7% during the 4th quarter. Vanguard Group Inc. now owns 71,739,532 shares of the company's stock worth $139,175,000 after purchasing an additional 2,547,398 shares in the last quarter. Wolf Hill Capital Management LP lifted its holdings in Globalstar by 57.3% during the 1st quarter. Wolf Hill Capital Management LP now owns 3,505,529 shares of the company's stock worth $5,153,000 after purchasing an additional 1,276,866 shares in the last quarter. Finally, Murchinson Ltd. purchased a new stake in Globalstar during the 1st quarter worth about $1,470,000. Hedge funds and other institutional investors own 18.89% of the company's stock.
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.
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