Globalstar (NYSE:GSAT) Shares Gap Up – Should You Buy?

Globalstar, Inc. (NYSE:GSAT) gapped up before the market opened on Monday . The stock had previously closed at $1.38, but opened at $1.50. Globalstar shares last traded at $1.48, with a volume of 24,611,171 shares.

Globalstar Stock Up 28.3 %

The company has a market capitalization of $3.36 billion, a P/E ratio of -51.97 and a beta of 0.88. The stock’s 50-day moving average price is $1.16. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.95 and a current ratio of 1.04.

Globalstar (NYSE:GSAT) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01). The firm had revenue of $60.39 million for the quarter, compared to the consensus estimate of $57.49 million. Globalstar had a negative return on equity of 13.69% and a negative net margin of 22.96%. On average, sell-side analysts expect that Globalstar, Inc. will post -0.02 EPS for the current fiscal year.

Insider Transactions at Globalstar

In related news, CFO Rebecca Clary sold 75,000 shares of the stock in a transaction on 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 owns 1,418,745 shares of the company’s stock, valued at $1,773,431.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 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 transaction of $93,750.00. Following the sale, the chief financial officer now 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 Securities & Exchange Commission, which is accessible through this link. Also, VP Timothy Evan Taylor sold 395,000 shares of Globalstar stock in a transaction that occurred 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 transaction, the vice president now directly owns 10,278,649 shares in the company, valued at approximately $12,539,951.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 61.00% of the company’s stock.

Hedge Funds Weigh In On Globalstar

A number of large investors have recently bought and sold shares of the company. PFG Investments LLC raised its position in Globalstar by 83.3% in the second quarter. PFG Investments LLC now owns 22,000 shares of the company’s stock worth $25,000 after acquiring an additional 10,000 shares in the last quarter. Empowered Funds LLC acquired a new position in shares of Globalstar during the 1st quarter worth $26,000. CWA Asset Management Group LLC purchased a new position in shares of Globalstar in the 3rd quarter valued at about $27,000. XTX Topco Ltd acquired a new stake in shares of Globalstar in the second quarter valued at about $31,000. Finally, Second Line Capital LLC purchased a new stake in Globalstar during the first quarter worth about $34,000. Hedge funds and other institutional investors own 18.89% of the company’s stock.

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.