Globalstar Sees Unusually Large Options Volume (NYSE:GSAT)

Globalstar, Inc. (NYSE:GSAT) was the target of some unusual options trading activity on Friday. Traders purchased 11,241 call options on the company. This represents an increase of 458% compared to the average volume of 2,013 call options.

Insider Activity at Globalstar

In other news, CFO Rebecca Clary sold 75,000 shares of Globalstar stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $1.25, for a total value of $93,750.00. Following the transaction, the chief financial officer now directly owns 1,418,745 shares in the company, valued at approximately $1,773,431.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Globalstar news, VP Timothy Evan Taylor sold 395,000 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $1.22, for a total value of $481,900.00. Following the sale, the vice president now directly owns 10,278,649 shares in the company, valued at $12,539,951.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Rebecca Clary sold 75,000 shares of Globalstar stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $1.25, for a total value of $93,750.00. Following the transaction, the chief financial officer now directly owns 1,418,745 shares of the company’s stock, valued at approximately $1,773,431.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 61.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Globalstar

Institutional investors have recently modified their holdings of the business. PFG Investments LLC grew its holdings in Globalstar by 83.3% during the 2nd quarter. PFG Investments LLC now owns 22,000 shares of the company’s stock worth $25,000 after acquiring an additional 10,000 shares during the period. Empowered Funds LLC acquired a new position in Globalstar in the first quarter valued at about $26,000. XTX Topco Ltd acquired a new position in shares of Globalstar during the 2nd quarter worth about $31,000. Second Line Capital LLC bought a new stake in shares of Globalstar in the 1st quarter valued at about $34,000. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Globalstar in the 2nd quarter valued at approximately $35,000. Institutional investors and hedge funds own 18.89% of the company’s stock.

Globalstar Price Performance

NYSE:GSAT traded up $0.29 on Friday, reaching $1.34. The stock had a trading volume of 104,224,653 shares, compared to its average volume of 4,508,683. The company has a market capitalization of $2.55 billion, a P/E ratio of -43.00 and a beta of 0.85. The company has a quick ratio of 0.95, a current ratio of 1.04 and a debt-to-equity ratio of 0.94. Globalstar has a 1-year low of $1.00 and a 1-year high of $2.13. The stock has a fifty day moving average price of $1.15 and a 200-day moving average price of $1.21.

Globalstar (NYSE:GSAT) last announced its earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The company had revenue of $60.39 million during the quarter, compared to the consensus estimate of $57.49 million. Globalstar had a negative net margin of 22.96% and a negative return on equity of 13.69%. Research analysts forecast that Globalstar will post -0.02 EPS for the current year.

Globalstar Company Profile

Globalstar, Inc provides mobile satellite services in the United States, Canada, Europe, Central and South America, and internationally. 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.