Globalstar Target of Unusually Large Options Trading (NYSE:GSAT)

Globalstar, Inc. (NYSE:GSAT) was the recipient of unusually large options trading on Thursday. Stock investors bought 25,942 call options on the stock. This is an increase of 119% compared to the typical volume of 11,841 call options.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Globalstar from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

Globalstar Trading Up 1.0 %

Shares of Globalstar stock traded up $0.02 during midday trading on Thursday, reaching $2.09. The company had a trading volume of 8,793,525 shares, compared to its average volume of 8,197,319. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.91. The company’s fifty day moving average is $2.03. Globalstar has a 1-year low of $1.00 and a 1-year high of $2.74. The firm has a market cap of $3.96 billion, a P/E ratio of -69.67 and a beta of 1.10.

Insider Buying and Selling

In other Globalstar news, Director James Monroe III bought 530,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were acquired at an average price of $1.90 per share, with a total value of $1,007,000.00. Following the completion of the purchase, the director now directly owns 6,834,090 shares in the company, valued at $12,984,771. The trade was a 8.41 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William A. Hasler sold 90,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $1.93, for a total transaction of $173,700.00. Following the transaction, the director now owns 848,668 shares of the company’s stock, valued at approximately $1,637,929.24. This represents a 9.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 3,030,000 shares of company stock valued at $5,987,000 and sold 3,666,312 shares valued at $8,104,313. 61.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Globalstar

Institutional investors and hedge funds have recently made changes to their positions in the company. XTX Topco Ltd boosted its stake in Globalstar by 3,472.7% in the third quarter. XTX Topco Ltd now owns 976,353 shares of the company’s stock valued at $1,211,000 after acquiring an additional 949,025 shares during the last quarter. FMR LLC boosted its position in shares of Globalstar by 32.7% in the 3rd quarter. FMR LLC now owns 4,473,492 shares of the company’s stock worth $5,547,000 after purchasing an additional 1,102,776 shares during the last quarter. Barclays PLC boosted its position in shares of Globalstar by 36.6% in the 3rd quarter. Barclays PLC now owns 1,270,443 shares of the company’s stock worth $1,575,000 after purchasing an additional 340,476 shares during the last quarter. State Street Corp grew its stake in shares of Globalstar by 3.4% during the third quarter. State Street Corp now owns 17,583,625 shares of the company’s stock worth $21,804,000 after purchasing an additional 580,305 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Globalstar by 3.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,186,012 shares of the company’s stock valued at $7,671,000 after purchasing an additional 196,644 shares during the last quarter. Institutional investors own 18.89% of the company’s stock.

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.