Timothy Evan Taylor Sells 26,333 Shares of Globalstar, Inc. (NYSEARCA:GSAT) Stock

Globalstar, Inc. (NYSEARCA:GSAT) VP Timothy Evan Taylor sold 26,333 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $22.04, for a total transaction of $580,379.32. Following the completion of the transaction, the vice president now directly owns 399,244 shares in the company, valued at $8,799,337.76. The trade was a 6.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Globalstar Stock Performance

GSAT stock opened at $21.33 on Friday. The stock’s 50 day moving average price is $11.45. 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 fifty-two week low of $15.00 and a fifty-two week high of $41.10. The stock has a market capitalization of $40.40 billion, a price-to-earnings ratio of -711.00 and a beta of 1.07.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. B. Riley boosted their price target on shares of Globalstar from $4.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Morgan Stanley boosted their price target on shares of Globalstar from $14.85 to $25.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 26th. Finally, Craig Hallum cut their price target on shares of Globalstar from $75.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, February 28th.

Institutional Trading of Globalstar

Large investors have recently made changes to their positions in the company. PFG Investments LLC purchased a new stake in shares of Globalstar during the fourth quarter worth approximately $25,000. IRON Financial LLC purchased a new position in Globalstar in the fourth quarter valued at approximately $29,000. Mariner LLC increased its stake in Globalstar by 30.9% in the fourth quarter. Mariner LLC now owns 14,007 shares of the company’s stock valued at $29,000 after purchasing an additional 3,307 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Globalstar in the fourth quarter valued at approximately $33,000. Finally, Sequoia Financial Advisors LLC purchased a new position in Globalstar in the fourth quarter valued at approximately $35,000. 18.89% of the stock is currently owned by hedge funds and other institutional investors.

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.