Globalstar (NYSEAMERICAN:GSAT) Sees Strong Trading Volume – What’s Next?

Globalstar, Inc. (NYSEAMERICAN:GSAT) saw strong trading volume on Thursday . 7,488,523 shares traded hands during trading, a decline of 3% from the previous session’s volume of 7,742,994 shares.The stock last traded at $2.11 and had previously closed at $2.22.

Analysts Set New Price Targets

Separately, Craig Hallum raised their target price on Globalstar from $4.00 to $5.00 and gave the stock a “buy” rating in a research note on Monday, November 4th.

Globalstar Stock Performance

The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.95 and a current ratio of 1.04. The stock has a market capitalization of $3.71 billion, a P/E ratio of -65.00 and a beta of 0.88. The business has a 50-day moving average price of $1.25 and a 200 day moving average price of $1.24.

Institutional Trading of Globalstar

Several institutional investors have recently bought and sold shares of GSAT. PFG Investments LLC boosted its stake in Globalstar by 83.3% during the 2nd quarter. PFG Investments LLC now owns 22,000 shares of the company’s stock valued at $25,000 after purchasing an additional 10,000 shares during the last quarter. CWA Asset Management Group LLC bought a new stake in Globalstar in the 3rd quarter worth about $27,000. XTX Topco Ltd purchased a new position in Globalstar in the 2nd quarter worth about $31,000. Panagora Asset Management Inc. bought a new position in Globalstar during the 2nd quarter valued at about $35,000. Finally, Tokio Marine Asset Management Co. Ltd. purchased a new stake in shares of Globalstar during the 3rd quarter valued at about $39,000. 18.89% of the stock is owned by hedge funds and other institutional investors.

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.