Globalstar (NYSEAMERICAN:GSAT) Stock Rises 7.1% – Is It a Good Time to Invest?

On January 5, 2025, shares of Globalstar, Inc. (NYSEAMERICAN:GSAT) experienced a significant increase, trading up by 7.1%. The stock reached a high of $2.28 during the day and later settled at $2.27. In total, around 6,079,092 shares were exchanged, which represents a 34% decrease compared to the average daily volume of 9,206,428 shares. Previously, the stock had closed at $2.12 the day before.

Insights from Wall Street Analysts

Recently, analysts from Craig Hallum raised their price target for Globalstar shares from $4.00 to $5.00, simultaneously issuing a “buy” rating in a report published on November 4th. This adjustment indicates a positive outlook for the company's future performance.

Overview of Globalstar's Stock Performance

In terms of stock performance metrics, Globalstar has a 50-day simple moving average of $1.25 and a 200-day simple moving average of $1.24. Their quick ratio stands at 0.95, while the current ratio is at 1.04, and the debt-to-equity ratio is 0.94. The company holds a market capitalization of $4.18 billion. Currently, it has a price-to-earnings ratio of -73.33 and a beta value of 0.88, suggesting relative stability compared to market fluctuations.

Institutional Trading Activity

Recent activity shows that several institutional investors have altered their stakes in Globalstar. PFG Investments LLC boosted its shareholding by 83.3% in the second quarter, now controlling 22,000 shares worth about $25,000. In the third quarter, CWA Asset Management Group LLC joined the list of investors by acquiring a stake valued around $27,000. Other investors like XTX Topco Ltd and Tokio Marine Asset Management have also made new purchases, reflecting growing interest and confidence in the company. Overall, institutional investors and hedge funds collectively hold about 18.89% of Globalstar's stock.

About Globalstar, Inc.

Globalstar, Inc. operates in the mobile satellite services sector, offering solutions across the United States, Canada, Europe, Central and South America, and beyond. The company provides two-way voice and data satellite communications, catering to needs in remote business operations, recreational use, safety, emergency preparedness, and other diverse applications.

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