Globalstar, Inc. (NYSE:GSAT) Position Boosted by Fmr LLC

Fmr LLC increased its holdings in Globalstar, Inc. (NYSE:GSAT) by 32.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,473,492 shares of the company’s stock after purchasing an additional 1,102,776 shares during the quarter. Fmr LLC owned 0.24% of Globalstar worth $5,547,000 at the end of the most recent quarter.

Separately, Dynamic Technology Lab Private Ltd acquired a new position in shares of Globalstar in the third quarter worth about $56,000. Institutional investors own 18.89% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Rebecca Clary sold 37,688 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $2.13, for a total value of $80,275.44. Following the completion of the sale, the chief financial officer now directly owns 1,396,027 shares in the company, valued at approximately $2,973,537.51. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William A. Hasler sold 90,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $1.93, for a total transaction of $173,700.00. Following the sale, the director now directly owns 848,668 shares of the company’s stock, valued at approximately $1,637,929.24. This represents a 9.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 166,312 shares of company stock valued at $334,313 in the last three months. Insiders own 61.00% of the company’s stock.

Analysts Set New Price Targets

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

Globalstar Trading Down 9.9 %

NYSE GSAT opened at $2.00 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99. Globalstar, Inc. has a 1-year low of $1.00 and a 1-year high of $2.74. The stock has a fifty day moving average of $1.92. The firm has a market capitalization of $3.78 billion, a P/E ratio of -66.67 and a beta of 1.10.

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.