Globalstar (NYSEMKT:GSAT) Trading 1.6% Higher

Globalstar, Inc. (NYSEMKT:GSAT) shares rose 1.6% during mid-day trading on Friday . The stock traded as high as $1.29 and last traded at $1.27. Approximately 3,460,107 shares changed hands during mid-day trading, an increase of 14% from the average daily volume of 3,026,324 shares. The stock had previously closed at $1.25.

Globalstar Price Performance

The company has a quick ratio of 0.63, a current ratio of 0.70 and a debt-to-equity ratio of 0.97. The company’s fifty day moving average price is $1.44 and its 200 day moving average price is $1.53. The company has a market capitalization of $2.39 billion, a P/E ratio of -127.00 and a beta of 0.84.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GSAT. Quantbot Technologies LP bought a new stake in Globalstar during the second quarter valued at $117,000. Raymond James & Associates boosted its position in shares of Globalstar by 66.2% during the 4th quarter. Raymond James & Associates now owns 87,308 shares of the company’s stock valued at $116,000 after purchasing an additional 34,790 shares in the last quarter. Virtu Financial LLC boosted its position in shares of Globalstar by 64.9% during the 4th quarter. Virtu Financial LLC now owns 81,120 shares of the company’s stock valued at $108,000 after purchasing an additional 31,934 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in Globalstar during the fourth quarter worth approximately $98,000. Finally, ProShare Advisors LLC increased its holdings in Globalstar by 11.5% in the second quarter. ProShare Advisors LLC now owns 89,818 shares of the company’s stock worth $97,000 after purchasing an additional 9,293 shares in the last quarter. 18.89% of the stock is currently owned by institutional investors and hedge funds.

Globalstar Company Profile

Globalstar, Inc provides mobile satellite services in the United States, Canada, Europe, Central and South America, and internationally. 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.