Insider Selling: Globalstar, Inc. (NYSE:GSAT) CFO Sells $80,275.44 in Stock

Globalstar, Inc. (NYSE:GSAT) CFO Rebecca Clary sold 37,688 shares of Globalstar stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $2.13, for a total value of $80,275.44. Following the completion of the transaction, the chief financial officer now directly owns 1,396,027 shares in the company, valued at approximately $2,973,537.51. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Globalstar Trading Down 9.9 %

Shares of NYSE:GSAT opened at $2.00 on Friday. The company has a fifty day moving average of $1.92. Globalstar, Inc. has a fifty-two week low of $1.00 and a fifty-two week high of $2.74. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91.

Institutional Trading of Globalstar

Large investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new position in Globalstar in the third quarter worth $56,000. BNP Paribas Financial Markets lifted its stake in shares of Globalstar by 26.4% during the third quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company’s stock valued at $407,000 after acquiring an additional 68,599 shares during the period. Sender Co & Partners Inc. acquired a new position in shares of Globalstar during the third quarter valued at $106,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of Globalstar by 1,000.5% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 129,644 shares of the company’s stock valued at $161,000 after acquiring an additional 117,864 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Globalstar by 3.3% during 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 acquiring an additional 196,644 shares during the period. 18.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

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.