Short Interest in Globalstar, Inc. (GSAT) Drops By 9.6%

Globalstar, Inc. (NYSEAMERICAN:GSAT) saw a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 47,637,842 shares, a drop of 9.6% from the January 15th total of 52,702,292 shares. Currently, 8.0% of the shares of the company are short sold. Based on an average daily volume of 1,543,054 shares, the days-to-cover ratio is presently 30.9 days.

Separately, TheStreet upgraded shares of Globalstar from a “d+” rating to a “c-” rating in a research note on Thursday, January 3rd.

Shares of GSAT remained flat at $$0.58 during mid-day trading on Monday. 1,003,007 shares of the stock traded hands, compared to its average volume of 2,120,925. Globalstar has a twelve month low of $0.29 and a twelve month high of $1.01.



In other news, CEO James Monroe III acquired 155,806,044 shares of the company’s stock in a transaction on Friday, December 21st. The shares were bought at an average price of $0.36 per share, with a total value of $56,090,175.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc lifted its position in Globalstar by 2.5% in the third quarter. Vanguard Group Inc now owns 60,140,025 shares of the Wireless communications provider’s stock valued at $30,551,000 after purchasing an additional 1,477,186 shares during the period. Jane Street Group LLC acquired a new stake in Globalstar in the second quarter valued at about $264,000. Renaissance Technologies LLC acquired a new stake in Globalstar in the second quarter valued at about $369,000. Steelhead Partners LLC lifted its position in Globalstar by 6.3% in the third quarter. Steelhead Partners LLC now owns 32,510,053 shares of the Wireless communications provider’s stock valued at $16,515,000 after purchasing an additional 1,933,000 shares during the period. Finally, Virtu Financial LLC lifted its position in Globalstar by 194.0% in the fourth quarter. Virtu Financial LLC now owns 115,545 shares of the Wireless communications provider’s stock valued at $74,000 after purchasing an additional 76,246 shares during the period.

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Globalstar Company Profile

Globalstar, Inc provides mobile satellite voice and data 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, emergency response, and other applications; fixed voice and data satellite communications services and equipment in rural villages, ships, industrial and commercial sites, and residential sites; and satellite data modem services comprising asynchronous and packet data services.

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