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.
Get Globalstar alerts: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
(Get Rating)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.
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