L Barbee Iv Ponder Sells 38,624 Shares of Globalstar, Inc. (NYSE:GSAT) Stock

Globalstar, Inc. (NYSE:GSAT) General Counsel L Barbee Iv Ponder sold 38,624 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $2.08, for a total transaction of $80,337.92. Following the sale, the general counsel now directly owns 2,057,241 shares in the company, valued at $4,279,061.28. This represents a 1.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Globalstar Stock Performance

Globalstar stock traded down $0.07 during midday trading on Wednesday, reaching $2.22. The stock had a trading volume of 37,064,699 shares, compared to its average volume of 7,745,360. Globalstar, Inc. has a 1-year low of $1.00 and a 1-year high of $2.74. The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.91. The company’s fifty day moving average is $1.91. The stock has a market capitalization of $4.20 billion, a PE ratio of -74.00 and a beta of 1.10.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Globalstar from a “sell” rating to a “hold” rating in a report on Monday, November 11th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. XTX Topco Ltd lifted its position in Globalstar by 3,472.7% during the 3rd quarter. XTX Topco Ltd now owns 976,353 shares of the company’s stock worth $1,211,000 after buying an additional 949,025 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Globalstar by 3.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,186,012 shares of the company’s stock valued at $7,671,000 after purchasing an additional 196,644 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Globalstar during the third quarter valued at approximately $56,000. Sender Co & Partners Inc. bought a new position in Globalstar in the third quarter valued at approximately $106,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in Globalstar by 1,000.5% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 129,644 shares of the company’s stock valued at $161,000 after purchasing an additional 117,864 shares in the last quarter. Institutional investors and hedge funds own 18.89% of the company’s stock.

About Globalstar

GLOBALSTAR INC offers satellite voice and data services to commercial and recreational users in more than 120 countries around the world. Globalstar’s products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service.