Globalstar (GSAT) Shares are Down -5%

Globalstar (GSAT) : During the past 4 weeks, traders have been relatively bearish on Globalstar (GSAT), hence the stock is down -6.75% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -5.05% relative to the S&P 500. The 4-week change in the price of the stock is -5.79% and the stock has fallen -5% in the past 1 week.

The stock has recorded a 20-day Moving Average of 2.77% and the 50-Day Moving Average is 4.39%. Globalstar (NYSEMKT:GSAT): On Fridays trading session , Opening price of the stock was $1.17 with an intraday high of $1.19. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $1.14. However, the stock managed to close at $1.14, a loss of 2.56% for the day. On the previous day, the stock had closed at $1.17. The total traded volume of the day was 1,618,720 shares.


The company Insiders own 64.75% of Globalstar shares according to the proxy statements. Institutional Investors own 32.44% of Globalstar shares. During last six month period, the net percent change held by insiders has seen a change of 123.33%. Also, Chardan Capital downgrades its view on Globalstar (NYSEMKT:GSAT) according to the research report released by the firm to its investors. The shares have now been rated Neutral by the stock experts at the ratings house. Earlier, the shares had a rating of Buy. The rating by the firm was issued on June 13, 2016.

Globalstar, Inc. provides mobile satellite services, including voice and data communications services globally via 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. It provides various communications services via satellite, which include two-way voice communication and data transmissions (Duplex) using mobile or fixed devices and one-way data transmissions (Simplex) using a mobile or fixed device that transmits its location and other information to a central monitoring station, which includes certain SPOT and Simplex products. It offers voice and data communication services over its network of in-orbit satellites and its active ground stations (gateways). It also offers hardware and software designs to develop specific applications operating over its network.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.