Zacks Investment Research lowered shares of Globalstar (NYSEAMERICAN:GSAT) from a hold rating to a sell rating in a report released on Thursday morning.

According to Zacks, “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. Global customer segments include: oil and gas, government, mining, forestry, commercial fishing, utilities, military, transportation, heavy construction, emergency preparedness, and business continuity as well as individual recreational users. Globalstar data solutions are ideal for various asset and personal tracking, data monitoring and SCADA applications. “

Separately, TheStreet raised Globalstar from a d+ rating to a c- rating in a report on Thursday, January 3rd.

GSAT stock opened at $0.44 on Thursday. Globalstar has a 12-month low of $0.29 and a 12-month high of $0.88.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HighPoint Advisor Group LLC bought a new position in Globalstar in the fourth quarter valued at $33,000. Parsec Financial Management Inc. bought a new position in Globalstar in the fourth quarter valued at $36,000. Founders Financial Securities LLC increased its stake in Globalstar by 146.6% in the fourth quarter. Founders Financial Securities LLC now owns 67,755 shares of the Wireless communications provider’s stock valued at $43,000 after acquiring an additional 40,280 shares during the last quarter. Virtu Financial LLC increased its stake 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 acquiring an additional 76,246 shares during the last quarter. Finally, HRT Financial LLC increased its stake in Globalstar by 63.8% in the fourth quarter. HRT Financial LLC now owns 116,583 shares of the Wireless communications provider’s stock valued at $74,000 after acquiring an additional 45,400 shares during the last quarter.

About Globalstar

Globalstar, Inc provides mobile satellite services, voice and data communications services through satellite worldwide. It offers communications services via satellite which includes: two-way voice communication and data transmissions using mobile or fixed devices; and one-way data transmissions using a mobile or fixed device that transmits its location and other information to a central monitoring station.

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