Globalstar, Inc. (NYSEAMERICAN:GSAT – Get Rating) saw unusually-high trading volume on Tuesday . Approximately 250,208 shares were traded during trading, a decline of 95% from the previous session's volume of 4,880,166 shares.The stock last traded at $1.52 and had previously closed at $1.58.

Globalstar Stock Down 5.7 %

The company has a current ratio of 1.12, a quick ratio of 0.89 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $2.68 billion, a PE ratio of -25.08 and a beta of 0.04.

Hedge Funds Weigh In On Globalstar

A number of hedge funds have recently added to or reduced their stakes in the business. Van ECK Associates Corp acquired a new position in shares of Globalstar during the second quarter valued at $228,000. Xponance Inc. boosted its holdings in shares of Globalstar by 27.0% during the second quarter. Xponance Inc. now owns 36,780 shares of the Wireless communications provider's stock valued at $45,000 after acquiring an additional 7,826 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Globalstar by 229.7% during the second quarter. SG Americas Securities LLC now owns 72,292 shares of the Wireless communications provider's stock valued at $89,000 after acquiring an additional 50,368 shares during the period. Hohimer Wealth Management LLC acquired a new position in shares of Globalstar during the second quarter valued at $615,000. Finally, CWA Asset Management Group LLC acquired a new position in shares of Globalstar during the second quarter valued at $27,000. Institutional investors and hedge funds own 17.81% of the company's stock.

About Globalstar

Globalstar, Inc provides mobile satellite services worldwide. 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; fixed voice and data satellite communications services and equipment at industrial, commercial, and residential sites, as well as rural villages and ships; and data modem services and equipment.

See Also

• Get a free copy of the StockNews.com research report on Globalstar (GSAT)
• Are Medtronic And Intuitive Surgical Poised For Big Growth?
• Ralph Lauren Is A Retail Stock You Can Buy And Hold
• Insider Sales At Cloudflare Are No Worry For Investors
• Home Depot, Lowe's On Track To Grow 2022 Earnings
• Could Smaller be Better for Investors in Norwegian Cruise Lines?

Receive News & Ratings for Globalstar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Globalstar and related companies with MarketBeat.com's FREE daily email newsletter.