Traders Purchase Large Volume of Globalstar Call Options (NYSE:GSAT)

Globalstar, Inc. (NYSE:GSAT) was the target of unusually large options trading on Wednesday. Investors purchased 26,105 call options on the stock. This is an increase of 328% compared to the typical volume of 6,105 call options.

Globalstar Trading Up 8.0 %

Shares of Globalstar stock opened at $1.89 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99. Globalstar has a 1-year low of $1.00 and a 1-year high of $2.13. The stock has a market cap of $3.58 billion, a price-to-earnings ratio of -63.00 and a beta of 0.88.

Institutional Trading of Globalstar

A number of large investors have recently bought and sold shares of GSAT. Charles Schwab Investment Management Inc. grew its stake in shares of Globalstar by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,186,012 shares of the company’s stock valued at $7,671,000 after buying an additional 196,644 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Globalstar in the 3rd quarter valued at about $56,000. FMR LLC grew its stake in shares of Globalstar by 32.7% in the 3rd quarter. FMR LLC now owns 4,473,492 shares of the company’s stock valued at $5,547,000 after buying an additional 1,102,776 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Globalstar by 26.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company’s stock valued at $407,000 after buying an additional 68,599 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Globalstar by 1,000.5% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 129,644 shares of the company’s stock valued at $161,000 after buying an additional 117,864 shares during the period. 18.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Globalstar from a “sell” rating to a “hold” rating in a report on Monday.

Globalstar Company Profile

GLOBALSTAR INC offers satellite voice and data services to commercial and recreational users in more than 120 countries around the world. Globalstar’s products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service.