Globalstar, Inc. (NYSEAMERICAN:GSAT) Short Interest Update

Globalstar, Inc. (NYSEAMERICAN:GSAT) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 2,800,000 shares, a growth of 20.2% from the February 13th total of 2,330,000 shares. Approximately 5.6% of the shares of the company are short sold. Based on an average daily trading volume, of 1,120,000 shares, the days-to-cover ratio is presently 2.5 days.

Wall Street Analysts Forecast Growth

Separately, B. Riley lifted their target price on shares of Globalstar from $4.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, February 19th.

Globalstar Stock Performance

Globalstar stock traded up $0.08 during trading on Thursday, reaching $21.78. The company had a trading volume of 22,905 shares, compared to its average volume of 929,357. The company has a 50-day moving average of $24.96. Globalstar has a 1-year low of $15.00 and a 1-year high of $41.10. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of -48.42 and a beta of 1.03. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99.

About Globalstar

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.