Globalstar, Inc. (NYSEAMERICAN:GSAT) was up 5.9% on Wednesday . The company traded as high as $1.28 and last traded at $1.25. Approximately 4,818,898 shares changed hands during mid-day trading, a decline of 9% from the average daily volume of 5,272,933 shares. The stock had previously closed at $1.18.

A number of equities research analysts have recently weighed in on GSAT shares. BidaskClub downgraded shares of Globalstar from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 9th. TheStreet upgraded shares of Globalstar from a “d” rating to a “c-” rating in a research note on Monday, November 13th.

Globalstar (NYSEAMERICAN:GSAT) last issued its quarterly earnings data on Thursday, November 2nd. The Wireless communications provider reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.06. The business had revenue of $30.46 million during the quarter. Globalstar had a net margin of 172.06% and a return on equity of 145.71%.

In related news, CEO James Monroe III sold 38,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $1.16, for a total value of $44,080,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

A hedge fund recently raised its stake in Globalstar stock. Private Advisor Group LLC grew its position in shares of Globalstar, Inc. (NYSEAMERICAN:GSAT) by 650.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 75,000 shares of the Wireless communications provider’s stock after purchasing an additional 65,000 shares during the quarter. Private Advisor Group LLC’s holdings in Globalstar were worth $122,000 as of its most recent SEC filing.

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About Globalstar

Globalstar, Inc (Globalstar) provides mobile satellite services (MSS), including voice and data communications services globally through satellite. The Company provides wireless communications services in areas not served or underserved by terrestrial wireless and wireline networks and in circumstances where terrestrial networks are not operational due to natural or man-made disasters.

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