Globalstar Receives Hold Rating from StockNews.com, Boost by TheStreet

Globalstar NYSE:GSAT has experienced a shift in the perception of market analysts, as evidenced by recent rating upgrades. StockNews.com adjusted its stance on Globalstar, elevating the satellite services provider from a sell to a hold position in a research note that was released on Saturday. This revision reflects a change in the outlook for the company's stock by the analytical firm.

Another Notch Up From TheStreet

In a separate assessment, TheStreet also provided a more encouraging view on Globalstar's shares, upgrading them from a d rating to a c- rating. This report was published a day prior to the announcement by StockNews.com, on Friday, November 3rd.

Trading Performance of Globalstar

The company's shares began trading at $1.37 on the preceding Friday. Globalstar has demonstrated some volatility in the markets, with a 50-day moving average of $1.33. It holds a debt-to-equity ratio of 0.80, a current ratio of 0.78, and a quick ratio of 0.71. The company's market capitalization stands at $2.60 billion, with a P/E ratio at 136.00 and a beta of 0.38. Notably, the stock has seen its 52-week low at $0.85 and its peak at $2.06 during the same period.

Inside Moves at Globalstar

There has been notable insider activity within the company. Globalstar's General Counsel L Barbee Iv Ponder executed the sale of 188,300 shares on Tuesday, November 7th, at an average price of $1.36, culminating in a transaction valued at $256,088.00. Subsequent to this sale, the general counsel's direct ownership in the company's stock is reported to be 2,086,956 shares, with an estimated value of approximately $2,838,260.16. Corporate insiders own 62.00% of Globalstar's stock, which is a substantial percentage indicating strong internal confidence in the company's future.

Institutional Interest in Globalstar

A range of hedge funds and institutional investors have recently adjusted their holdings in Globalstar. Private Advisor Group LLC, for instance, procured new shares in the third quarter valued at roughly $25,000. Furthermore, Jump Financial LLC initiated a new position during the same period, investing about $39,000. Stratos Wealth Advisors LLC and Commonwealth Equity Services LLC also embarked on new stakes or amplified their existing investments, signaling a growing institutional trust in the company's prospects. Overall, 17.15% of the stock is controlled by institutional investors and hedge funds.

About Globalstar

Globalstar, Inc. provides vital mobile satellite services on a global scale, catering to a diverse client base that requires reliable communications. The company's offerings encompass duplex two-way voice and data products tailored for a variety of uses—including remote business operations, recreational pursuits, and critical safety measures for emergency preparedness and response.

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