Globalstar Receives Rating Upgrade from Stock Analysts

Equity research analysts at StockNews.com have adjusted their stance on shares of the satellite services provider Globalstar, which is listed under the stock ticker GSAT. The firm has changed its rating from a 'sell' to a 'hold' in their latest research note, signaling a shift in their assessment of the company's stock prospects. This update was disseminated to the investment community on Saturday, marking a notable change in the stock's perceived outlook.

Ratings Adjustment from TheStreet

Adding to this, another financial analysis and reporting company, TheStreet, has also revised their rating of Globalstar. Previously assigning the company a 'd' rating, TheStreet has since elevated its view to a 'c-' rating in a report that was released on Friday, November 3rd. This incremental upgrade suggests an improvement in the overall health and potential performance of the company, according to TheStreet's evaluation criteria.

Recent Performance of GSAT

Concurrent to the rating adjustments, Globalstar's stock commenced trading at $1.37 on Friday. The stock has demonstrated steady trading patterns, maintaining a 50-day moving average of $1.33. The financial metrics indicate a debt-to-equity ratio of 0.80, a current ratio of 0.78, and a quick ratio of 0.71. Globalstar boasts a market capitalization of $2.60 billion, with a P/E ratio of 136.00 and a beta coefficient of 0.38. Furthermore, the stock has seen a 52-week low of $0.85 and has reached a 52-week high of $2.06.

Insider and Institutional Activity

In related news highlighting the insider confidence, L Barbee Iv Ponder, Globalstar's General Counsel, sold 188,300 shares at an average selling price of $1.36, totaling a transaction value of approximately $256,088. Following this transaction, Ponder holds a direct ownership of 2,086,956 shares, signifying an executive belief in the long-term value of the company. This sale has been duly reported to the SEC and is publicly accessible via their filing records.

Moreover, various hedge funds and institutional investors have been active in adjusting their stakes in Globalstar. New positions have been acquired by entities such as Private Advisor Group LLC, Jump Financial LLC, Stratos Wealth Advisors LLC, with reported values up to approximately $79,000. Adding to this, Commonwealth Equity Services LLC has significantly increased its holding by 92.1%, now owning 61,498 shares valued around $81,000. Lake Street Financial LLC's stake upsurge by 39.9% is also noteworthy, currently owning 106,918 shares valued at $132,000. In total, 17.15% of Globalstar's stock is owned by such institutional investors and hedge funds.

About Globalstar, Inc.

Globalstar, Inc. provides critical mobile satellite services on a global scale. The company specializes in duplex two-way voice and data products, catering to a wide array of needs including business continuity, recreational use, safety measures, emergency preparedness, and other essential applications requiring reliable communication services. With a well-established footprint worldwide, Globalstar remains a key player in the mobile satellite services market.

upgrade, hold, Globalstar