Stock Traders Buy Large Volume of Globalstar Call Options (NYSE:GSAT)

Globalstar, Inc. (NYSE:GSAT) was the target of some unusual options trading on Wednesday. Investors bought 26,105 call options on the stock. This is an increase of 328% compared to the typical volume of 6,105 call options.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd acquired a new stake in Globalstar in the 3rd quarter valued at approximately $56,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in Globalstar by 1,000.5% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 129,644 shares of the company’s stock valued at $161,000 after buying an additional 117,864 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Globalstar by 26.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company’s stock valued at $407,000 after buying an additional 68,599 shares during the last quarter. FMR LLC grew its holdings in Globalstar by 32.7% in 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 last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Globalstar by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,186,012 shares of the company’s stock valued at $7,671,000 after buying an additional 196,644 shares during the last quarter. Institutional investors and hedge funds own 18.89% of the company’s stock.

Globalstar Stock Up 8.0 %

GSAT opened at $1.89 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.09 and a quick ratio of 0.99. The stock has a market cap of $3.58 billion, a PE ratio of -63.00 and a beta of 0.88. Globalstar has a fifty-two week low of $1.00 and a fifty-two week high of $2.13.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Globalstar from a “sell” rating to a “hold” rating in a research note on Monday.

Globalstar Company Profile

GLOBALSTAR INC offers satellite voice and data services to commercial and recreational users in more than 120 countries around the world. Globalstar’s products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service.