--- title: "Globalstar (NYSE:GSAT) Trading 2.3% Higher After Insider Buying Activity" description: "Globalstar, Inc. (NYSE:GSAT) shares rose 2.3% to $1.98 following insider buying by Director James Monroe III, who purchased 1 million shares at an average price of $1.97. The stock's trading volume wa" type: "news" locale: "en" url: "https://longbridge.com/en/news/223241755.md" published_at: "2024-12-25T05:16:52.000Z" --- # Globalstar (NYSE:GSAT) Trading 2.3% Higher After Insider Buying Activity > Globalstar, Inc. (NYSE:GSAT) shares rose 2.3% to $1.98 following insider buying by Director James Monroe III, who purchased 1 million shares at an average price of $1.97. The stock's trading volume was significantly lower than average. Analysts have upgraded Globalstar from a "sell" to a "hold" rating. The company has a market cap of $3.73 billion and a debt-to-equity ratio of 0.91. Institutional investors hold 18.89% of the stock, with notable increases in holdings from several firms in the third quarter. Shares of Globalstar, Inc. (NYSE:GSAT - Get Free Report) rose 2.3% during trading on Tuesday following insider buying activity. The stock traded as high as $2.00 and last traded at $1.98. Approximately 5,631,519 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 18,954,704 shares. The stock had previously closed at $1.93. Specifically, Director James Monroe III acquired 500,000 shares of the stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average price of $1.97 per share, for a total transaction of $985,000.00. Following the completion of the transaction, the director now owns 9,834,090 shares of the company's stock, valued at approximately $19,373,157.30. This represents a 5.36 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Monroe III acquired 500,000 shares of the business's stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average cost of $2.00 per share, with a total value of $1,000,000.00. Following the acquisition, the director now directly owns 8,834,090 shares of the company's stock, valued at $17,668,180. This represents a 6.00 % increase in their position. The disclosure for this purchase can be found here. ## Wall Street Analysts Forecast Growth Separately, StockNews.com upgraded Globalstar from a "sell" rating to a "hold" rating in a research report on Monday, November 11th. **View Our Latest Stock Analysis on GSAT** ## Globalstar Stock Up 2.1 % The company has a quick ratio of 0.99, a current ratio of 1.09 and a debt-to-equity ratio of 0.91. The firm has a market cap of $3.73 billion, a PE ratio of -65.67 and a beta of 1.10. The company's fifty day moving average is $1.96. ## Institutional Trading of Globalstar A number of institutional investors and hedge funds have recently modified their holdings of GSAT. Dynamic Technology Lab Private Ltd bought a new stake in Globalstar during the 3rd quarter worth approximately $56,000. Sender Co & Partners Inc. bought a new position in Globalstar in the 3rd quarter worth $106,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in Globalstar by 1,000.5% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 129,644 shares of the company's stock valued at $161,000 after acquiring an additional 117,864 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Globalstar by 26.4% in the third quarter. BNP Paribas Financial Markets now owns 328,298 shares of the company's stock valued at $407,000 after acquiring an additional 68,599 shares in the last quarter. Finally, XTX Topco Ltd grew its position in shares of Globalstar by 3,472.7% during the third quarter. XTX Topco Ltd now owns 976,353 shares of the company's stock worth $1,211,000 after purchasing an additional 949,025 shares in the last quarter. Institutional investors own 18.89% of the company's stock. ## About Globalstar (Get Free Report) 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. ## Read More - Five stocks we like better than Globalstar - What is a Secondary Public Offering? What Investors Need to Know - 5 Reasons DraftKings Stock Looks Promising in the New Year - What is the Australian Securities Exchange (ASX) - Cybersecurity Stocks: 1 Immediate Buy and 1 Dip Opportunity - What Are Dividend Contenders? Investing in Dividend Contenders - The Next 2 AI Winners Have Triple-Digit Upside Potential *This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.* → Wall St. Icon: “If you wait on this, it will already be too late” (From InvestorPlace) (Ad)## Should you invest $1,000 in Globalstar right now? Before you consider Globalstar, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Globalstar wasn't on the list. While Globalstar currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys. View The Five Stocks Here ### Related Stocks - [GSAT.US - Globalstar](https://longbridge.com/en/quote/GSAT.US.md) ## Related News & Research | Title | Description | URL | |-------|-------------|-----| | Globalstar (GSAT): Reassessing Valuation After a Strong Year-Long Share Price Surge | Globalstar (GSAT) has seen a strong share price surge, doubling over the past year. Investors are reassessing its valuat | [Link](https://longbridge.com/en/news/270800939.md) | | Penserra Capital Management LLC Cuts Holdings in Globalstar, Inc. $GSAT | Penserra Capital Management LLC reduced its stake in Globalstar, Inc. (NASDAQ:GSAT) by 9.8% in Q3, now holding 439,038 s | [Link](https://longbridge.com/en/news/274983259.md) | | How Do Investors Really Feel About Globalstar Inc? | Globalstar Inc's short interest has decreased by 3.46%, with 3.62 million shares sold short, representing 7.26% of avail | [Link](https://longbridge.com/en/news/271277373.md) | | Globalstar General Counsel Ponder L Barbee IV Reports Sale of Common Shares | Ponder L Barbee IV, General Counsel of Globalstar Inc., has reported the sale of common shares of the company. The full | [Link](https://longbridge.com/en/news/271039006.md) | | L Barbee Iv Ponder Sells 420 Shares of Globalstar (NASDAQ:GSAT) Stock | Globalstar's General Counsel L Barbee Iv Ponder sold 420 shares at $63.01 each, totaling $26,464.20. This reduced his ow | [Link](https://longbridge.com/en/news/270548410.md) | --- > **Disclaimer**: This article is for reference only and does not constitute any investment advice.