Globalstar, Inc. (GSAT) Short Interest Update
Globalstar, Inc. (NYSEAMERICAN:GSAT) was the recipient of a significant increase in short interest in November. As of November 15th, there was short interest totalling 81,223,964 shares, an increase of 4.1% from the October 31st total of 77,994,175 shares. Currently, 15.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,630,505 shares, the days-to-cover ratio is currently 22.4 days.
A number of equities research analysts recently weighed in on GSAT shares. BidaskClub downgraded shares of Globalstar from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 3rd. TheStreet raised shares of Globalstar from a “d” rating to a “c-” rating in a research note on Monday, November 13th.
Globalstar (NYSEAMERICAN GSAT) opened at $1.56 on Thursday. Globalstar has a 52-week low of $0.73 and a 52-week high of $2.59.
In other news, CEO James Monroe III purchased 27,607,656 shares of the stock in a transaction dated Wednesday, October 11th. The shares were purchased at an average cost of $1.57 per share, with a total value of $43,344,019.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
An institutional investor recently raised its position in Globalstar stock. Private Advisor Group LLC raised its holdings in shares of Globalstar, Inc. (NYSEAMERICAN:GSAT) by 650.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,000 shares of the Wireless communications provider’s stock after acquiring an additional 65,000 shares during the period. Private Advisor Group LLC’s holdings in Globalstar were worth $122,000 at the end of the most recent reporting period.
Globalstar Company Profile
Globalstar, Inc (Globalstar) provides mobile satellite services (MSS), including voice and data communications services globally through satellite. The Company provides wireless communications services in areas not served or underserved by terrestrial wireless and wireline networks and in circumstances where terrestrial networks are not operational due to natural or man-made disasters.
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