Masso Torrence Wealth Management Inc. Takes $52,000 Position in Globalstar, Inc. (NYSEARCA:GSAT)

Masso Torrence Wealth Management Inc. bought a new position in shares of Globalstar, Inc. (NYSEARCA:GSAT) during the fourth quarter, Holdings Channel.com reports. The fund bought 25,000 shares of the company’s stock, valued at approximately $52,000.

Other large investors have also recently bought and sold shares of the company. PFG Investments LLC bought a new stake in shares of Globalstar in the 4th quarter worth approximately $25,000. CWA Asset Management Group LLC acquired a new position in shares of Globalstar in the third quarter valued at $27,000. IRON Financial LLC bought a new position in Globalstar in the fourth quarter worth $29,000. XTX Topco Ltd bought a new stake in Globalstar in the 2nd quarter valued at $31,000. Finally, Tokio Marine Asset Management Co. Ltd. bought a new stake in Globalstar in the 3rd quarter valued at $39,000. 18.89% of the stock is currently owned by institutional investors and hedge funds.

Globalstar Price Performance

Shares of NYSEARCA:GSAT opened at $1.35 on Wednesday. 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 has a fifty day moving average of $1.99. Globalstar, Inc. has a fifty-two week low of $1.00 and a fifty-two week high of $2.74. The company has a market capitalization of $2.56 billion, a PE ratio of -45.67 and a beta of 1.07.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Craig Hallum lifted their target price on shares of Globalstar from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Monday, November 4th. StockNews.com raised Globalstar from a “sell” rating to a “hold” rating in a report on Monday, November 11th.

Insider Activity

In other Globalstar news, Director William A. Hasler sold 90,000 shares of Globalstar stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $1.93, for a total value of $173,700.00. Following the completion of the transaction, the director now owns 848,668 shares in the company, valued at approximately $1,637,929.24. The trade was a 9.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Rebecca Clary sold 37,688 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $2.13, for a total value of $80,275.44. Following the completion of the transaction, the chief financial officer now directly owns 1,396,027 shares in the company, valued at approximately $2,973,537.51. This represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 3,030,000 shares of company stock worth $5,987,000 and have sold 3,680,851 shares worth $8,136,154. 60.76% of the stock is owned by corporate insiders.

About Globalstar

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.