Black Swift Group LLC Makes New Investment in Globalstar, Inc. (NYSEARCA:GSAT)

Black Swift Group LLC bought a new position in Globalstar, Inc. (NYSEARCA:GSAT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 25,000 shares of the company’s stock, valued at approximately $52,000.

Other large investors have also made changes to their positions in the company. PFG Investments LLC purchased a new position in shares of Globalstar in the 4th quarter worth $25,000. IRON Financial LLC acquired a new stake in Globalstar in the 4th quarter valued at $29,000. Vontobel Holding Ltd. acquired a new stake in Globalstar in the 4th quarter valued at $41,000. CWA Asset Management Group LLC acquired a new stake in Globalstar in the 3rd quarter valued at $27,000. Finally, Masso Torrence Wealth Management Inc. acquired a new stake in Globalstar in the 4th quarter valued at $52,000. 18.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GSAT. Morgan Stanley increased their price target on Globalstar from $14.85 to $25.00 and gave the company an “equal weight” rating in a report on Wednesday, February 26th. StockNews.com upgraded Globalstar from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Craig Hallum lowered their price target on Globalstar from $75.00 to $45.00 and set a “buy” rating for the company in a report on Friday, February 28th. Finally, B. Riley increased their price target on Globalstar from $4.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, February 19th.

Insider Activity

In related news, CEO Paul E. Jacobs sold 14,539 shares of Globalstar stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $2.19, for a total value of $31,840.41. Following the completion of the transaction, the chief executive officer now directly owns 84,815 shares in the company, valued at approximately $185,744.85. This trade represents a 14.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Rebecca Clary sold 37,688 shares of Globalstar stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $2.13, for a total value of $80,275.44. Following the completion of the transaction, the chief financial officer now owns 1,396,027 shares of the company’s stock, valued at $2,973,537.51. This trade represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 3,030,000 shares of company stock worth $5,987,000 and sold 3,590,851 shares worth $7,962,454. Insiders own 60.76% of the company’s stock.

Globalstar Price Performance

Shares of Globalstar stock opened at $23.09 on Thursday. The firm’s 50-day simple moving average is $8.67. 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 capitalization of $43.74 billion, a P/E ratio of -769.67 and a beta of 1.07. Globalstar, Inc. has a 1-year low of $15.00 and a 1-year high of $41.10.

About Globalstar

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.