Globalstar (NASDAQ:GSAT) General Counsel L Barbee Iv Ponder Sells 1,692 Shares of Stock

Globalstar, Inc. (NASDAQ:GSAT) General Counsel L. Ponder, IV sold 1,692 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $82.96, for a total value of $140,368.32. Following the completion of the transaction, the general counsel directly owned 128,891 shares in the company, valued at $10,692,797.36. The trade was a 1.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

L Barbee Iv Ponder also recently made the following trade(s):

• On Tuesday, August 11th, L. Ponder, IV sold 4,720 shares of Globalstar stock. The stock was sold at an average price of $83.52, for a total value of $394,214.40.
• On Friday, August 7th, L. Ponder, IV sold 12,045 shares of Globalstar stock. The shares were sold at an average price of $83.21, for a total value of $1,002,264.45.

Globalstar Stock Performance

GSAT stock traded down $0.52 during trading hours on Tuesday, hitting $82.52. 490,046 shares of the stock were exchanged, compared to its average volume of 1,098,648. Globalstar, Inc. has a 12 month low of $33.90 and a 12 month high of $84.85. The company has a current ratio of 1.55, a quick ratio of 1.51 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $10.69 billion, a P/E ratio of -161.80 and a beta of 1.51. The company has a 50-day simple moving average of $81.73 and a two-hundred day simple moving average of $78.04.

Globalstar (NASDAQ:GSAT) last announced its earnings results on Thursday, August 6th. The company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.14). Globalstar had a negative net margin of 22.25% and a negative return on equity of 16.66%. The business had revenue of $64.77 million during the quarter. Globalstar’s revenue was down 3.5% on a year-over-year basis. On average, analysts forecast that Globalstar, Inc. will post -0.62 earnings per share for the current fiscal year.

Key Globalstar News

Here are the key news stories impacting Globalstar this week:

• Positive Sentiment: Globalstar completed construction of an expanded ground station in Nemea, Greece. The addition of three six-meter tracking antennas doubles the facility’s capacity and advances the company’s third-generation C-3 mobile satellite network. The broader buildout includes approximately 90 antennas across 35 ground stations in 25 countries, supporting future network capacity and resilience. Globalstar Completes Expansion of Greece Ground Station
• Positive Sentiment: Director James Monroe III purchased 361,600 GSAT shares worth approximately $29.8 million, increasing his direct ownership by 775%. The purchase signals confidence from one board member, although it occurred at the same price and in the same share quantity as another director’s sale. Globalstar Insider Trading Activity
• Neutral Sentiment: Recent institutional activity was mixed: 176 investors increased positions while 159 reduced them in the latest quarter. Institutional ownership stands at roughly 18.9%, providing limited evidence of broad-based conviction.
• Negative Sentiment: Director James Lynch sold 361,600 shares for approximately $29.8 million, cutting his position by 50.7%. The sale is notable because it represents a large reduction near GSAT’s recent highs. SEC Filing for James Lynch Sale
• Negative Sentiment: Market commentary says GSAT looks fully priced after its 346% run, raising profit-taking and valuation risks. Analysts’ average price target of $75.67 is below the recent trading range, while ratings are concentrated around Hold, with one Buy and one Sell. Globalstar Stock Looks Fully Priced
• Negative Sentiment: Globalstar’s latest quarterly results showed an adjusted loss of $0.23 per share versus the expected $0.09 loss, while revenue declined 3.5% year over year to $64.8 million. The company remains unprofitable, with analysts expecting a full-year loss.

Analysts Set New Price Targets

A number of analysts have recently weighed in on GSAT shares. Wall Street Zen upgraded Globalstar to a “sell” rating in a research report on Saturday, August 8th. Craig Hallum downgraded Globalstar from a “buy” rating to a “hold” rating and set a $90.00 price target for the company. in a research note on Tuesday, August 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Globalstar in a research note on Wednesday, September 2nd. Finally, Zacks Research cut shares of Globalstar from a “hold” rating to a “strong sell” rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Globalstar presently has an average rating of “Hold” and an average target price of $75.67.

Institutional Investors Weigh In On Globalstar

A number of large investors have recently modified their holdings of the business. Geode Capital Management LLC increased its stake in shares of Globalstar by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 1,283,093 shares of the company’s stock valued at $78,331,000 after purchasing an additional 4,799 shares during the last quarter. Senvest Management LLC lifted its position in shares of Globalstar by 27.7% during the 1st quarter. Senvest Management LLC now owns 868,946 shares of the company’s stock worth $57,715,000 after buying an additional 188,325 shares during the last quarter. Sculptor Capital LP acquired a new stake in Globalstar in the first quarter valued at about $15,742,000. Dimensional Fund Advisors LP grew its position in Globalstar by 7.4% in the first quarter. Dimensional Fund Advisors LP now owns 231,690 shares of the company’s stock valued at $15,363,000 after acquiring an additional 16,009 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in Globalstar in the second quarter valued at about $13,233,000. Institutional investors and hedge funds own 18.89% of the company’s stock.

About Globalstar

Globalstar, Inc (NASDAQ: GSAT) provides mobile satellite communications and related connectivity services. The company operates a low-Earth-orbit satellite network that supports two-way voice and data communications, satellite messaging, asset tracking, and Internet of Things (IoT) applications in areas where terrestrial wireless networks are limited or unavailable.

Its product portfolio includes SPOT satellite messengers and tracking devices, which are used for personal safety, emergency communications, location tracking, and field operations.