Globalstar (NASDAQ:GSAT) Stock: Insider L Barbee Iv Ponder Sells 2,308 Shares

Globalstar, Inc. (NASDAQ:GSAT) General Counsel L. Ponder, IV sold 2,308 shares of the firm’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $86.06, for a total value of $198,626.48. Following the sale, the general counsel owned 126,583 shares of the company’s stock, valued at $10,893,732.98. This represents a 1.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, September 21st, L. Ponder, IV sold 1,692 shares of Globalstar stock. The stock was sold at an average price of $82.96, for a total transaction of $140,368.32.

Globalstar Stock Up 0.2%

Shares of Globalstar stock traded up $0.20 during trading on Thursday, reaching $86.24. The company had a trading volume of 1,216,362 shares, compared to its average volume of 1,055,053. The company has a market cap of $11.18 billion, a price-to-earnings ratio of -134.75 and a beta of 1.52. The firm’s fifty day moving average is $83.06 and its 200-day moving average is $76.68. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.54 and a current ratio of 1.59. Globalstar, Inc. has a fifty-two week low of $53.67 and a fifty-two week high of $86.97.

Globalstar (NASDAQ:GSAT) last posted its quarterly earnings results on Thursday, November 5th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.02). Globalstar had a negative net margin of 28.53% and a negative return on equity of 23.10%. The firm had revenue of $70.90 million for the quarter. On average, analysts anticipate that Globalstar, Inc. will post -0.62 EPS for the current year.

Institutional Investors Weigh In On Globalstar

Several large investors have recently added to or reduced their stakes in GSAT. Eurizon Capital SGR S.p.A. bought a new stake in Globalstar in the third quarter valued at $27,000. Fifth Third Bancorp acquired a new position in shares of Globalstar during the third quarter valued at $29,000. Optiver Holding B.V. bought a new position in shares of Globalstar during the first quarter worth about $32,000. Parallel Advisors LLC grew its position in shares of Globalstar by 114.1% during the third quarter. Parallel Advisors LLC now owns 516 shares of the company’s stock worth $43,000 after acquiring an additional 275 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in shares of Globalstar by 879.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 764 shares of the company’s stock worth $62,000 after acquiring an additional 686 shares during the period. 18.89% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on GSAT shares. Zacks Research raised shares of Globalstar from a “strong sell” rating to a “hold” rating in a report on Thursday, October 15th. Weiss Ratings lowered shares of Globalstar from a “hold (c)” rating to a “sell (d-)” rating in a report on Tuesday, September 22nd. Wall Street Zen upgraded shares of Globalstar from a “sell” rating to a “hold” rating in a research note on Saturday, November 7th. Finally, Craig Hallum cut shares of Globalstar from a “buy” rating to a “hold” rating and set a $90.00 target price on the stock. in a report on Tuesday, August 18th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $76.00.

About Globalstar

Globalstar operates a low Earth orbit satellite communications network that provides voice and data connectivity in areas where terrestrial networks may be unavailable. Its services support personal, commercial and government users across land and maritime environments. The company offers satellite phones and data services, as well as products and services for asset tracking, remote monitoring and safety communications. Its SPOT devices provide location-based messaging and emergency notification, while its satellite network also supports Apple satellite features in supported regions.