Globalstar (NYSEARCA:GSAT) Sets New 52-Week High – Still a Buy?

Globalstar, Inc. (NYSEARCA:GSAT)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $71.28 and last traded at $70.1340, with a volume of 329904 shares traded. The stock had previously closed at $68.24.

Globalstar Stock Up 2.7%

The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $8.89 billion, a price-to-earnings ratio of -2,358.53 and a beta of 1.08. The firm has a 50 day moving average price of $52.56 and a two-hundred day moving average price of $35.73.

Institutional Investors Weigh In On Globalstar

Several large investors have recently made changes to their positions in the business. Ieq Capital LLC acquired a new position in shares of Globalstar during the 1st quarter valued at $213,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Globalstar in the first quarter valued at about $1,332,000. Cubist Systematic Strategies LLC purchased a new position in Globalstar in the first quarter valued at about $1,915,000. Nuveen LLC acquired a new position in shares of Globalstar during the first quarter worth about $2,611,000. Finally, Long Focus Capital Management LLC purchased a new stake in shares of Globalstar in the first quarter worth about $7,718,000. Institutional investors and hedge funds 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.