Paul E. Jacobs Sells 14,539 Shares of Globalstar, Inc. (NYSEARCA:GSAT) Stock

Globalstar, Inc. (NYSEARCA:GSAT) CEO Paul E. Jacobs sold 14,539 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $2.19, for a total transaction of $31,840.41. Following the completion of the transaction, the chief executive officer now directly owns 84,815 shares in the company, valued at $185,744.85. The trade was a 14.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Globalstar Stock Performance

Shares of Globalstar stock opened at $1.98 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.04 and a debt-to-equity ratio of 0.94. Globalstar, Inc. has a 52-week low of $1.00 and a 52-week high of $2.74. The firm has a fifty day simple moving average of $2.06. The stock has a market cap of $3.76 billion, a PE ratio of -66.00 and a beta of 0.88.

Analyst Ratings Changes

Several research analysts recently issued reports on GSAT shares. Craig Hallum upped their target price on shares of Globalstar from $4.00 to $5.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. StockNews.com raised Globalstar from a “sell” rating to a “hold” rating in a report on Monday, November 11th.

Institutional Trading of Globalstar

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its position in Globalstar by 32.7% during the 3rd quarter. FMR LLC now owns 4,473,492 shares of the company’s stock valued at $5,547,000 after buying an additional 1,102,776 shares during the period. XTX Topco Ltd raised its stake in shares of Globalstar by 3,472.7% during the third quarter. XTX Topco Ltd now owns 976,353 shares of the company’s stock valued at $1,211,000 after acquiring an additional 949,025 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Globalstar by 36.3% during the third quarter. JPMorgan Chase & Co. now owns 2,266,746 shares of the company’s stock worth $2,811,000 after purchasing an additional 603,285 shares during the period. State Street Corp grew its stake in shares of Globalstar by 3.4% in the third quarter. State Street Corp now owns 17,583,625 shares of the company’s stock worth $21,804,000 after purchasing an additional 580,305 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Globalstar by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 16,812,336 shares of the company’s stock valued at $20,852,000 after purchasing an additional 382,288 shares during the period. 18.89% of the stock is currently owned by hedge funds and other institutional investors.

About Globalstar

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.