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 company’s 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 owns 84,815 shares of the company’s stock, valued at $185,744.85. This trade represents a 14.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Globalstar Price Performance

Shares of NYSEARCA:GSAT opened at $1.98 on Thursday. The firm’s fifty day moving average is $2.06. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.04 and a quick ratio of 0.95. The company has a market capitalization of $3.76 billion, a P/E ratio of -66.00 and a beta of 0.88. Globalstar, Inc. has a 1-year low of $1.00 and a 1-year high of $2.74.

Analysts Set New Price Targets

GSAT has been the topic of several research analyst reports. Craig Hallum boosted their price target on shares of Globalstar from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Monday, November 4th. StockNews.com raised shares of Globalstar from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. FMR LLC grew its holdings in shares of Globalstar by 32.7% during the third 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. XTX Topco Ltd lifted its position in Globalstar by 3,472.7% in the 3rd 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 in the last quarter. JPMorgan Chase & Co. boosted its stake in Globalstar by 36.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,266,746 shares of the company’s stock valued at $2,811,000 after purchasing an additional 603,285 shares during the last quarter. State Street Corp increased its holdings in shares of Globalstar by 3.4% in the 3rd 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 in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Globalstar by 2.3% in the third quarter. Geode Capital Management LLC now owns 16,812,336 shares of the company’s stock worth $20,852,000 after purchasing an additional 382,288 shares during the last quarter. 18.89% of the stock is 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.