B. Riley Wealth Advisors Inc. Acquires 407,058 Shares of Globalstar, Inc. (NYSE:GSAT)

B. Riley Wealth Advisors Inc. boosted its holdings in shares of Globalstar, Inc. (NYSE:GSAT) by 264.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 560,888 shares of the company’s stock after buying an additional 407,058 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Globalstar were worth $1,088,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of Globalstar by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 69,192,134 shares of the company’s stock valued at $90,642,000 after acquiring an additional 418,008 shares during the last quarter. Pure Financial Advisors LLC acquired a new position in shares of Globalstar during the 4th quarter valued at about $97,000. EP Wealth Advisors LLC increased its holdings in shares of Globalstar by 141.3% during the 3rd quarter. EP Wealth Advisors LLC now owns 40,550 shares of the company’s stock valued at $53,000 after acquiring an additional 23,748 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Globalstar by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,646,468 shares of the company’s stock valued at $10,954,000 after acquiring an additional 213,489 shares during the last quarter. Finally, Swiss National Bank boosted its stake in Globalstar by 1.1% during the 3rd quarter. Swiss National Bank now owns 1,594,154 shares of the company’s stock valued at $2,088,000 after purchasing an additional 17,000 shares during the period. 18.89% of the stock is currently owned by institutional investors.

Globalstar Price Performance

Shares of NYSE:GSAT opened at $1.08 on Friday. The business has a 50 day moving average price of $1.11 and a 200 day moving average price of $1.25. Globalstar, Inc. has a twelve month low of $0.96 and a twelve month high of $2.13. The company has a market cap of $2.05 billion, a price-to-earnings ratio of -54.00 and a beta of 0.82. The company has a quick ratio of 0.90, a current ratio of 1.00 and a debt-to-equity ratio of 0.97.

Globalstar (NYSE:GSAT) last announced its earnings results on Wednesday, May 8th. The company reported ($0.01) earnings per share for the quarter, meeting the consensus estimate of ($0.01). Globalstar had a negative return on equity of 11.66% and a negative net margin of 19.14%. The firm had revenue of $56.48 million during the quarter, compared to the consensus estimate of $52.92 million. Research analysts predict that Globalstar, Inc. will post -0.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Globalstar from a “hold” rating to a “sell” rating in a research note on Thursday, February 29th.

Globalstar 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.