L Barbee Iv Ponder Sells 1,221 Shares of Globalstar (NASDAQ:GSAT) Stock

Globalstar, Inc. (NASDAQ:GSAT) General Counsel L Barbee Iv Ponder sold 1,221 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $67.88, for a total transaction of $82,881.48. Following the sale, the general counsel owned 134,437 shares of the company’s stock, valued at approximately $9,125,583.56. The trade was a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

L Barbee Iv Ponder also recently made the following trade(s):

• On Monday, November 17th, L Barbee Iv Ponder sold 9,790 shares of Globalstar stock. The stock was sold at an average price of $58.32, for a total value of $570,952.80.
• On Wednesday, November 12th, L Barbee Iv Ponder sold 56 shares of Globalstar stock. The shares were sold at an average price of $61.34, for a total value of $3,435.04.

Globalstar Price Performance

GSAT opened at $68.24 on Wednesday. The company has a debt-to-equity ratio of 1.33, a current ratio of 2.53 and a quick ratio of 2.46. The stock’s 50 day simple moving average is $52.57 and its 200 day simple moving average is $35.75. The firm has a market cap of $8.66 billion, a price-to-earnings ratio of -148.35 and a beta of 1.08. Globalstar, Inc. has a 1 year low of $17.24 and a 1 year high of $70.83.

Globalstar (NASDAQ:GSAT) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.02. Globalstar had a negative return on equity of 3.67% and a negative net margin of 21.07%.The firm had revenue of $73.85 million during the quarter. During the same period last year, the company posted $0.06 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year.

Institutional Investors Weigh In On Globalstar

Large investors have recently modified their holdings of the stock. MRP Capital Investments LLC lifted its holdings in Globalstar by 22.9% in the third quarter. MRP Capital Investments LLC now owns 3,350 shares of the company’s stock worth $122,000 after buying an additional 625 shares during the period. Advisory Services Network LLC bought a new position in shares of Globalstar in the 3rd quarter worth approximately $40,000. XTX Topco Ltd purchased a new position in shares of Globalstar in the 3rd quarter valued at approximately $532,000. Nomura Holdings Inc. bought a new stake in shares of Globalstar during the third quarter valued at approximately $269,000. Finally, Focus Partners Wealth bought a new stake in shares of Globalstar during the third quarter valued at approximately $455,000. Institutional investors own 18.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GSAT shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Globalstar in a report on Tuesday, December 2nd. Zacks Research lowered shares of Globalstar from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 7th. Finally, B. Riley boosted their price target on Globalstar from $60.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 10th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $75.00.

Globalstar Company Profile

Globalstar, Inc provides mobile satellite services worldwide. 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; fixed voice and data satellite communications services and equipment at industrial, commercial, and residential sites, as well as rural villages and ships; and data modem services and equipment.