Globalstar Target of Unusually Large Options Trading (NYSE:GSAT)

Globalstar, Inc. (NYSE:GSAT) was the recipient of some unusual options trading on Wednesday. Investors acquired 26,105 call options on the stock. This is an increase of 328% compared to the typical volume of 6,105 call options.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Globalstar from a “sell” rating to a “hold” rating in a report on Monday.

Hedge Funds Weigh In On Globalstar

Several institutional investors have recently made changes to their positions in GSAT. Charles Schwab Investment Management Inc. grew its holdings in Globalstar by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,186,012 shares of the company’s stock worth $7,671,000 after buying an additional 196,644 shares in the last quarter. FMR LLC grew its holdings in Globalstar by 32.7% in the 3rd quarter. FMR LLC now owns 4,473,492 shares of the company’s stock worth $5,547,000 after buying an additional 1,102,776 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Globalstar by 26.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company’s stock worth $407,000 after buying an additional 68,599 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Globalstar in the 3rd quarter worth approximately $56,000. 18.89% of the stock is owned by institutional investors.

Globalstar Stock Down 7.9 %

Shares of NYSE:GSAT traded down $0.15 during trading on Wednesday, hitting $1.75. 26,203,898 shares of the company traded hands, compared to its average volume of 6,691,113. The firm has a market capitalization of $3.31 billion, a PE ratio of -58.33 and a beta of 0.88. Globalstar has a one year low of $1.00 and a one year high of $2.13. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91.

Globalstar Company Profile

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.