Globalstar, Inc. (GSAT) Upgraded to C- at TheStreet

TheStreet upgraded shares of Globalstar, Inc. (NYSEAMERICAN:GSAT) from a d rating to a c- rating in a research report sent to investors on Monday.

Separately, BidaskClub raised Globalstar from a strong sell rating to a sell rating in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $2.50.

Globalstar (NYSEAMERICAN:GSAT) opened at $1.61 on Monday. Globalstar has a 12-month low of $0.73 and a 12-month high of $2.59.

Globalstar (NYSEAMERICAN:GSAT) last released its earnings results on Thursday, November 2nd. The Wireless communications provider reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.06. Globalstar had a return on equity of 145.71% and a net margin of 172.06%. The firm had revenue of $30.46 million for the quarter.

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In other Globalstar news, CEO James Monroe III acquired 27,607,656 shares of the business’s stock in a transaction on Wednesday, October 11th. The stock was bought at an average price of $1.57 per share, for a total transaction of $43,344,019.92. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

A hedge fund recently raised its stake in Globalstar stock. Private Advisor Group LLC lifted its position in shares of Globalstar, Inc. (NYSEAMERICAN:GSAT) by 650.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,000 shares of the Wireless communications provider’s stock after buying an additional 65,000 shares during the period. Private Advisor Group LLC’s holdings in Globalstar were worth $122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

About Globalstar

Globalstar, Inc (Globalstar) provides mobile satellite services (MSS), including voice and data communications services globally through satellite. The Company provides wireless communications services in areas not served or underserved by terrestrial wireless and wireline networks and in circumstances where terrestrial networks are not operational due to natural or man-made disasters.

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