Globalstar (NASDAQ:GSAT) Earns Sell (D-) Rating from Weiss Ratings

Globalstar (NASDAQ:GSAT)‘s stock had its “sell (d-)” rating restated by investment analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

A number of other brokerages have also commented on GSAT. Zacks Research raised Globalstar to a “strong-buy” rating in a research note on Monday, August 11th. Wall Street Zen raised Globalstar from a “sell” rating to a “hold” rating in a research note on Monday, June 23rd. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Globalstar Trading Up 4.1%

Shares of Globalstar stock opened at $45.53 on Wednesday. The company’s 50 day moving average price is $31.48. Globalstar has a 12 month low of $15.00 and a 12 month high of $46.50. The company has a market capitalization of $5.77 billion, a price-to-earnings ratio of -101.18 and a beta of 0.99. The company has a debt-to-equity ratio of 1.30, a quick ratio of 2.72 and a current ratio of 2.81.

Globalstar (NASDAQ:GSAT) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.22. Globalstar had a negative return on equity of 1.17% and a negative net margin of 17.80%. Globalstar has set its FY 2025 guidance at EPS.

Insider Transactions at Globalstar

In other news, VP Timothy Evan Taylor sold 26,334 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $30.57, for a total value of $805,030.38. Following the sale, the vice president directly owned 320,244 shares in the company, valued at approximately $9,789,859.08. This represents a 7.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Rebecca Clary sold 2,100 shares of the stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $35.01, for a total value of $73,521.00. Following the completion of the sale, the chief financial officer owned 105,661 shares in the company, valued at approximately $3,699,191.61. The trade was a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 113,605 shares of company stock worth $3,758,155. 61.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Globalstar

Hedge funds and other institutional investors have recently modified their holdings of the business. Cannell Capital LLC increased its holdings in Globalstar by 1.1% during the 2nd quarter. Cannell Capital LLC now owns 51,320 shares of the company’s stock worth $1,209,000 after purchasing an additional 580 shares during the period. State of Wyoming increased its holdings in Globalstar by 82.3% during the 2nd quarter. State of Wyoming now owns 3,963 shares of the company’s stock worth $93,000 after purchasing an additional 1,789 shares during the period. BNP Paribas Financial Markets increased its holdings in Globalstar by 80.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,212 shares of the company’s stock worth $123,000 after purchasing an additional 2,331 shares during the period. MRP Capital Investments LLC purchased a new position in Globalstar during the 2nd quarter worth $64,000. Finally, Osaic Holdings Inc. increased its holdings in Globalstar by 640.4% during the 2nd quarter. Osaic Holdings Inc. now owns 3,302 shares of the company’s stock worth $78,000 after purchasing an additional 2,856 shares during the period. 18.89% of the stock is currently owned by hedge funds and other institutional investors.

Globalstar Company Profile

Globalstar, Inc provides mobile satellite services worldwide. The company offers duplex two-way voice and data products, including mobile voice and data satellite communications services and equipment for remote business continuity, recreational usage, safety, emergency preparedness and response, and other applications; fixed voice and data satellite communications services and equipment at industrial, commercial, and residential sites, as well as rural villages and ships; and data modem services and equipment.