Globalstar, Inc. (NYSEAMERICAN:GSAT) Short Interest Update

Globalstar, Inc. (NYSEAMERICAN:GSATGet Free Report) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 30,120,000 shares, a growth of 6.7% from the November 30th total of 28,240,000 shares. Approximately 4.0% of the company’s shares are sold short. Based on an average trading volume of 18,900,000 shares, the short-interest ratio is currently 1.6 days.

Institutional Investors Weigh In On Globalstar

Several institutional investors have recently made changes to their positions in the stock. CIBC Asset Management Inc grew its holdings in Globalstar by 154.9% during the 2nd quarter. CIBC Asset Management Inc now owns 53,535 shares of the company’s stock valued at $60,000 after buying an additional 32,535 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Globalstar by 12.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,791,176 shares of the company’s stock worth $3,126,000 after acquiring an additional 307,357 shares during the period. Inspire Investing LLC lifted its stake in Globalstar by 28.2% in the 2nd quarter. Inspire Investing LLC now owns 318,617 shares of the company’s stock worth $357,000 after purchasing an additional 70,179 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in Globalstar by 57.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 54,561 shares of the company’s stock valued at $68,000 after purchasing an additional 19,946 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Globalstar by 24.4% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 247,342 shares of the company’s stock valued at $307,000 after purchasing an additional 48,566 shares in the last quarter. Hedge funds and other institutional investors own 18.89% of the company’s stock.

Analysts Set New Price Targets

Separately, Craig Hallum boosted their price objective on Globalstar from $4.00 to $5.00 and gave the company a “buy” rating in a report on Monday, November 4th.

Check Out Our Latest Report on Globalstar

Globalstar Stock Performance

NYSEAMERICAN GSAT traded down $0.10 on Wednesday, hitting $2.07. 13,472,494 shares of the stock traded hands, compared to its average volume of 8,197,040. The business’s fifty day moving average is $1.25 and its two-hundred day moving average is $1.24. Globalstar has a 12 month low of $1.00 and a 12 month high of $2.74. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of -69.00 and a beta of 0.88. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.95 and a current ratio of 1.04.

About Globalstar

(Get Free Report)

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.

Further Reading

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