Globalstar (NASDAQ:GSAT) Raised to “Hold” at Zacks Research

Globalstar (NASDAQ:GSAT) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other analysts have also recently weighed in on the stock. Craig Hallum reissued a “buy” rating and set a $70.00 target price on shares of Globalstar in a report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of Globalstar in a report on Tuesday, December 16th. They issued a “hold” rating and a $62.00 price target for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Globalstar in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Globalstar has an average rating of “Hold” and an average target price of $69.00.

Globalstar Price Performance

Shares of NASDAQ GSAT opened at $77.73 on Wednesday. The business has a 50 day simple moving average of $61.01 and a 200-day simple moving average of $56.41. Globalstar has a twelve month low of $17.24 and a twelve month high of $78.30. The company has a market capitalization of $9.99 billion, a price-to-earnings ratio of -518.17, a price-to-earnings-growth ratio of 111.89 and a beta of 1.46. The company has a current ratio of 2.42, a quick ratio of 2.37 and a debt-to-equity ratio of 1.27.

Insiders Place Their Bets

In other news, CFO Rebecca Clary sold 762 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $57.31, for a total transaction of $43,670.22. Following the completion of the transaction, the chief financial officer owned 110,254 shares in the company, valued at approximately $6,318,656.74. This represents a 0.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Paul E. Jacobs sold 714 shares of the stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $59.56, for a total transaction of $42,525.84. Following the completion of the sale, the chief executive officer directly owned 67,032 shares in the company, valued at approximately $3,992,425.92. This trade represents a 1.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 4,999 shares of company stock valued at $293,646 over the last three months. Company insiders own 61.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in Globalstar by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 18,106 shares of the company’s stock worth $1,219,000 after purchasing an additional 248 shares during the last quarter. Clearstead Trust LLC boosted its position in shares of Globalstar by 20.7% during the fourth quarter. Clearstead Trust LLC now owns 2,131 shares of the company’s stock worth $130,000 after buying an additional 366 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA acquired a new position in shares of Globalstar during the fourth quarter worth approximately $26,000. NewEdge Advisors LLC grew its holdings in Globalstar by 85.1% in the 4th quarter. NewEdge Advisors LLC now owns 935 shares of the company’s stock worth $57,000 after buying an additional 430 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in Globalstar in the 4th quarter valued at approximately $27,000. 18.89% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Globalstar

Here are the key news stories impacting Globalstar this week:

• Positive Sentiment: Reports that Amazon is in advanced acquisition talks with Globalstar, citing people familiar with the matter, are the primary catalyst for the rally — an attractive strategic fit given Amazon’s push into satellite internet. Amazon in talks to buy $9 billion satellite group Globalstar, FT reports
• Positive Sentiment: Major business press (CNBC) confirms takeover talks and notes negotiations are underway, which boosts takeover-premium expectations and speculative buying. Globalstar stock surges 15% on report Amazon is weighing an acquisition
• Positive Sentiment: Multiple outlets report an implied deal value near $9 billion, a headline number that supports a substantially higher takeover price versus where the market traded before rumors. Amazon Plans $9 Billion Acquisition of Globalstar to Directly Challenge SpaceX’s Starlink
• Positive Sentiment: Reports note hedge funds and institutional players (Soros, AQR, Millennium) had positioned ahead of the move, suggesting demand from sophisticated buyers helped amplify the rally. GSAT’s 18-year high isn’t just about Amazon – Soros, AQR, Millennium saw it coming
• Neutral Sentiment: Market commentary and data services (Investopedia, Bloomberg) flagged GSAT as a top mover today; that coverage can attract momentum traders but doesn’t change fundamentals by itself. Deal Talks With Amazon Have This Satellite Internet Provider’s Stock Popping
• Negative Sentiment: Potential deal risks — regulatory scrutiny, spectrum disputes and competitive tensions with SpaceX/Starlink — could complicate or delay a transaction and introduce execution risk. Globalstar Soars 10%: Amazon’s Reported Takeover Bid Ignites a Spectrum War With SpaceX
• Negative Sentiment: Some broker commentary sets price targets below the current elevated levels, signaling that analysts may not yet have repriced fundamentals to reflect takeover speculation — creating downside if rumors fade. Brokerages Set Globalstar, Inc. (NASDAQ:GSAT) PT at $69.00

About Globalstar

Globalstar, Inc is a leading provider of mobile satellite voice and data communications services. Through a network of low Earth orbit (LEO) satellites, the company delivers reliable satellite connectivity to users in remote or underserved regions where terrestrial networks are unavailable or unreliable. Its product portfolio includes satellite phones, two-way satellite data modems and Internet of Things (IoT) devices designed for tracking, monitoring and emergency notification.

Founded in 1991 as a joint venture between Loral and Qualcomm, Globalstar launched its first fleet of 48 satellites between 1998 and 2000.