Globalstar, Inc. (NYSEAMERICAN:GSAT) gapped down prior to trading on Friday . The stock had previously closed at $1.22, but opened at $1.18. Globalstar shares last traded at $1.15, with a volume of 18530994 shares changing hands.

Several brokerages have recently commented on GSAT. BidaskClub lowered Globalstar from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 9th. TheStreet raised Globalstar from a “d” rating to a “c-” rating in a research note on Monday, November 13th.

Globalstar (NYSEAMERICAN:GSAT) last released its quarterly earnings data on Thursday, November 2nd. The Wireless communications provider reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.06. Globalstar had a net margin of 172.06% and a return on equity of 145.71%. The firm had revenue of $30.46 million for the quarter.

In other news, CEO James Monroe III purchased 27,607,656 shares of Globalstar stock in a transaction that occurred on Wednesday, October 11th. The stock was acquired at an average price of $1.57 per share, for a total transaction of $43,344,019.92. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

An institutional investor recently raised its position in Globalstar stock. Private Advisor Group LLC grew its stake in Globalstar, Inc. (NYSEAMERICAN:GSAT) by 650.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,000 shares of the Wireless communications provider’s stock after purchasing an additional 65,000 shares during the period. Private Advisor Group LLC’s holdings in Globalstar were worth $122,000 as of its most recent SEC filing.

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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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