Globalstar June 15th Short Interest Update

The short interest in Globalstar (NYSEMKT:GSAT) has increased from 48,357,669 on May 31,2016 to 53,948,960 on June 15,2016. The change was measured at 5,591,291 shares or 11.6%. The leftover shorts were 13.5% of the floated shares. The days to cover are 2, given the average daily volume of 22,210,898 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Globalstar (NYSEMKT:GSAT): The stock opened at $1.15 on Friday but the bulls could not build on the opening and the stock topped out at $1.19 for the day. The stock traded down to $1.09 during the day, due to lack of any buying support eventually closed down at $1.11 with a loss of -9.02% for the day. The stock had closed at $1.22 on the previous day. The total traded volume was 20,783,391 shares.

The company shares have dropped -47.89% from its 1 Year high price. On May 16, 2016, the shares registered one year high at $3.00 and the one year low was seen on Jun 3, 2016. The 50-Day Moving Average price is $1.78 and the 200 Day Moving Average price is recorded at $1.55.

Globalstar (NYSEMKT:GSAT) has tumbled 7.5% during the past week and has dropped 51.1% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 5.97%. Globalstar (NYSEMKT:GSAT) has underperformed the index by 49.62% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

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.

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