William A. Hasler Sells 90,000 Shares of Globalstar, Inc. (NYSE:GSAT) Stock

Globalstar, Inc. (NYSE:GSAT) Director William A. Hasler sold 90,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $1.93, for a total value of $173,700.00. Following the transaction, the director now owns 848,668 shares in the company, valued at $1,637,929.24. The trade was a 9.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Globalstar Stock Down 0.5 %

NYSE GSAT traded down $0.01 during midday trading on Wednesday, hitting $2.09. 30,437,299 shares of the company traded hands, compared to its average volume of 7,174,518. Globalstar, Inc. has a 52 week low of $1.00 and a 52 week high of $2.29. The stock has a market capitalization of $3.96 billion, a PE ratio of -69.67 and a beta of 1.10. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of Globalstar from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

Institutional Trading of Globalstar

A number of institutional investors have recently modified their holdings of GSAT. Dynamic Technology Lab Private Ltd acquired a new stake in Globalstar in the third quarter valued at approximately $56,000. Barclays PLC raised its holdings in shares of Globalstar by 36.6% in the third quarter. Barclays PLC now owns 1,270,443 shares of the company’s stock worth $1,575,000 after buying an additional 340,476 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Globalstar by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 16,812,336 shares of the company’s stock valued at $20,852,000 after buying an additional 382,288 shares during the period. State Street Corp grew its position in shares of Globalstar by 3.4% during the 3rd quarter. State Street Corp now owns 17,583,625 shares of the company’s stock valued at $21,804,000 after acquiring an additional 580,305 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Globalstar by 26.4% during the third quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company’s stock valued at $407,000 after purchasing an additional 68,599 shares in the last quarter. 18.89% of the stock is currently owned by institutional investors.

About Globalstar

GLOBALSTAR INC offers satellite voice and data services to commercial and recreational users in more than 120 countries around the world. Globalstar’s products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service.