Globalstar (NASDAQ:GSAT) General Counsel Sells $39,085.42 in Stock

by · The Markets Daily

Globalstar, Inc. (NASDAQ:GSAT – Get Free Report) General Counsel L Barbee Iv Ponder sold 682 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $57.31, for a total transaction of $39,085.42. Following the completion of the transaction, the general counsel owned 143,348 shares in the company, valued at approximately $8,215,273.88. The trade was a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

  • On Tuesday, March 10th, L Barbee Iv Ponder sold 492 shares of Globalstar stock. The stock was sold at an average price of $55.38, for a total transaction of $27,246.96.
  • On Monday, December 29th, L Barbee Iv Ponder sold 1,260 shares of Globalstar stock. The stock was sold at an average price of $61.42, for a total transaction of $77,389.20.
  • On Monday, December 22nd, L Barbee Iv Ponder sold 420 shares of Globalstar stock. The shares were sold at an average price of $63.01, for a total value of $26,464.20.

Globalstar Stock Performance

NASDAQ GSAT traded down $0.48 on Thursday, hitting $57.11. 513,986 shares of the stock traded hands, compared to its average volume of 632,339. The company has a debt-to-equity ratio of 1.27, a quick ratio of 2.37 and a current ratio of 2.42. The business’s fifty day moving average is $60.92 and its two-hundred day moving average is $53.01. Globalstar, Inc. has a 12 month low of $17.24 and a 12 month high of $74.88. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of -380.71, a PEG ratio of 95.95 and a beta of 1.43.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GSAT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Globalstar in a report on Monday, December 29th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Globalstar in a research report on Tuesday, December 16th. They set a “hold” rating and a $62.00 target price for the company. Craig Hallum reissued a “buy” rating and issued a $70.00 price target on shares of Globalstar in a research report on Monday, March 2nd. Finally, Zacks Research cut shares of Globalstar from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 3rd. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $69.00.

Get Our Latest Analysis on Globalstar

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GSAT. Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new stake in shares of Globalstar during the fourth quarter valued at about $26,000. Meeder Asset Management Inc. bought a new position in shares of Globalstar in the fourth quarter valued at approximately $27,000. US Bancorp DE boosted its position in shares of Globalstar by 610.7% in the third quarter. US Bancorp DE now owns 931 shares of the company’s stock valued at $34,000 after acquiring an additional 800 shares during the period. NewEdge Advisors LLC grew its stake in Globalstar by 85.1% during the fourth quarter. NewEdge Advisors LLC now owns 935 shares of the company’s stock valued at $57,000 after acquiring an additional 430 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Globalstar in the 4th quarter worth approximately $61,000. Institutional investors own 18.89% of the company’s stock.

About Globalstar

(Get Free Report)

Globalstar, Inc is a leading provider of mobile satellite voice and data communications services. Through a network of low Earth orbit (LEO) satellites, the company delivers reliable satellite connectivity to users in remote or underserved regions where terrestrial networks are unavailable or unreliable. Its product portfolio includes satellite phones, two-way satellite data modems and Internet of Things (IoT) devices designed for tracking, monitoring and emergency notification.

Founded in 1991 as a joint venture between Loral and Qualcomm, Globalstar launched its first fleet of 48 satellites between 1998 and 2000.

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