Short Interest in Globalstar, Inc. (NYSEAMERICAN:GSAT) Increases By 12.0%

Globalstar, Inc. (NYSEAMERICAN:GSAT) was the target of a large growth in short interest in April. As of April 30th, there was short interest totalling 30,420,000 shares, a growth of 12.0% from the April 15th total of 27,170,000 shares. Based on an average daily volume of 3,740,000 shares, the short-interest ratio is currently 8.1 days. Approximately 4.0% of the shares of the stock are short sold.

Globalstar Stock Down 1.2 %

Shares of NYSEAMERICAN GSAT traded down $0.02 during midday trading on Friday, hitting $1.22. 1,085,920 shares of the company’s stock were exchanged, compared to its average volume of 3,942,999. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -11.18 and a beta of 0.53. Globalstar has a 12-month low of $0.96 and a 12-month high of $2.13. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 0.97.

Globalstar (NYSEAMERICAN:GSAT) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.01). The business had revenue of $56.48 million for the quarter, compared to analyst estimates of $52.92 million. Globalstar had a negative return on equity of 76.89% and a negative net margin of 112.72%. Sell-side analysts expect that Globalstar will post -0.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Globalstar

A hedge fund recently raised its stake in Globalstar stock. SG Americas Securities LLC boosted its holdings in shares of Globalstar, Inc. (NYSEAMERICAN:GSAT) by 135.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,801 shares of the company’s stock after purchasing an additional 16,587 shares during the quarter. SG Americas Securities LLC’s holdings in Globalstar were worth $38,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 17.15% of the company’s stock.

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.