Globalstar, Inc. (NYSEAMERICAN:GSAT) Short Interest Update

Globalstar, Inc. (NYSEAMERICAN:GSATGet Free Report) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 29,550,000 shares, an increase of 11.1% from the February 29th total of 26,590,000 shares. Currently, 3.9% of the company’s shares are sold short. Based on an average daily volume of 4,860,000 shares, the days-to-cover ratio is currently 6.1 days.

Globalstar Stock Performance

NYSEAMERICAN:GSAT opened at $1.36 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 0.97. Globalstar has a twelve month low of $0.85 and a twelve month high of $2.13. The firm has a market cap of $2.45 billion, a P/E ratio of -12.36 and a beta of 0.53.

Globalstar (NYSEAMERICAN:GSATGet Free Report) last released its quarterly earnings results on Wednesday, February 28th. The company reported ($0.01) earnings per share for the quarter. The firm had revenue of $52.41 million for the quarter, compared to analyst estimates of $53.06 million. Globalstar had a negative net margin of 112.72% and a negative return on equity of 76.89%. Sell-side analysts anticipate that Globalstar will post -0.01 earnings per share for the current year.

Institutional Investors Weigh In On Globalstar

Several hedge funds and other institutional investors have recently modified their holdings of GSAT. SG Americas Securities LLC raised its position in shares of Globalstar by 135.8% during the 3rd quarter. SG Americas Securities LLC now owns 28,801 shares of the company’s stock valued at $38,000 after acquiring an additional 16,587 shares in the last quarter. Parisi Gray Wealth Management acquired a new stake in shares of Globalstar during the third quarter worth $66,000. Finally, Curbstone Financial Management Corp lifted its position in shares of Globalstar by 4.7% in the 3rd quarter. Curbstone Financial Management Corp now owns 444,000 shares of the company’s stock worth $582,000 after buying an additional 20,000 shares during the last quarter. Institutional investors own 17.15% of the company’s stock.

About Globalstar

(Get Free Report)

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.

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