Globalstar (NASDAQ:GSAT) Hits New 52-Week High – What’s Next?

Shares of Globalstar, Inc. (NASDAQ:GSAT) hit a new 52-week high on Thursday . The stock traded as high as $77.74 and last traded at $74.5220, with a volume of 1344948 shares. The stock had previously closed at $68.53.

Key Headlines Impacting Globalstar

Here are the key news stories impacting Globalstar this week:

• Positive Sentiment: Reports that Amazon is in advanced acquisition talks with Globalstar, cited by major outlets, are driving the rally as investors price in an M&A premium. Reuters: Amazon in talks to buy $9 billion satellite group Globalstar
• Positive Sentiment: Coverage highlights a reported ~$9B valuation and strategic rationale — Amazon seeking to bolster its satellite/Internet capabilities to compete with Starlink — which supports the idea of a strategic buyer willing to pay a premium. 247WallSt: Globalstar Soars 10%: Amazon’s Reported Takeover Bid
• Neutral Sentiment: Multiple outlets note the talks are ongoing and that deal complexities remain; nothing is confirmed — meaning further upside depends on whether talks progress to a firm offer or break down. CNBC: Globalstar stock surges on report Amazon is weighing an acquisition
• Neutral Sentiment: Some broker commentary sets price targets below recent trade (e.g., $69), signaling that not all analysts have repriced shares to reflect takeover speculation; watch for analyst updates. AmericanBankingNews: Brokerages Set Globalstar PT at $69
• Negative Sentiment: Potential spectrum disputes and regulatory scrutiny (and a possible bidding war with SpaceX) could complicate or delay a deal, introduce costs or scuttle talks — a downside risk for investors if uncertainty persists. 247WallSt: Spectrum war with SpaceX discussion
• Negative Sentiment: Broader market volatility (geopolitical headlines and oil-price moves) could pressure sentiment and limit follow-through gains even if an acquisition completes. Investopedia: Market setup and volatility

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GSAT. Craig Hallum reiterated a “buy” rating and issued a $70.00 price target on shares of Globalstar in a research note on Monday, March 2nd. Zacks Research cut shares of Globalstar from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Globalstar in a report on Monday, December 29th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Globalstar in a research note on Tuesday, December 16th. They set a “hold” rating and a $62.00 target price on the stock. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $69.00.

Globalstar Stock Up 8.5%

The company has a quick ratio of 2.37, a current ratio of 2.42 and a debt-to-equity ratio of 1.27. The business has a 50-day simple moving average of $60.77 and a 200-day simple moving average of $56.26. The company has a market cap of $9.56 billion, a PE ratio of -496.94, a P/E/G ratio of 108.44 and a beta of 1.46.

Insider Buying and Selling

In other Globalstar news, General Counsel L Barbee Iv Ponder sold 682 shares of the stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $57.31, for a total transaction of $39,085.42. Following the transaction, the general counsel directly owned 143,348 shares of the company’s stock, valued at $8,215,273.88. This trade represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Rebecca Clary sold 762 shares of Globalstar stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $57.31, for a total transaction of $43,670.22. Following the completion of the sale, the chief financial officer owned 110,254 shares in the company, valued at approximately $6,318,656.74. This trade represents a 0.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 4,999 shares of company stock valued at $293,646. 61.00% of the stock is owned by corporate insiders.

Institutional Trading of Globalstar

Several large investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Globalstar by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,106 shares of the company’s stock valued at $1,219,000 after purchasing an additional 248 shares in the last quarter. Clearstead Trust LLC boosted its position in 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 during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new stake in Globalstar in the 4th quarter valued at about $26,000. NewEdge Advisors LLC lifted its stake in Globalstar by 85.1% in the 4th quarter. NewEdge Advisors LLC now owns 935 shares of the company’s stock worth $57,000 after purchasing an additional 430 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Globalstar during the 4th quarter worth approximately $27,000. 18.89% of the stock is currently owned by hedge funds and other institutional investors.

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.