Globalstar, Inc. (NYSEAMERICAN:GSAT) Short Interest Update

Globalstar, Inc. (NYSEAMERICAN:GSAT) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 2,800,000 shares, an increase of 20.2% from the February 13th total of 2,330,000 shares. Based on an average trading volume of 1,120,000 shares, the short-interest ratio is currently 2.5 days. Currently, 5.6% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Separately, B. Riley increased their price objective on Globalstar from $4.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, February 19th.

Globalstar Stock Up 0.4 %

Shares of GSAT stock traded up $0.08 during mid-day trading on Thursday, reaching $21.78. The stock had a trading volume of 22,905 shares, compared to its average volume of 929,357. The company has a 50 day moving average of $24.96. The company has a current ratio of 1.09, a quick ratio of 0.99 and a debt-to-equity ratio of 0.91. Globalstar has a one year low of $15.00 and a one year high of $41.10. The company has a market capitalization of $2.75 billion, a price-to-earnings ratio of -48.42 and a beta of 1.03.

Globalstar Company Profile

Globalstar, Inc provides mobile satellite services worldwide. 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; fixed voice and data satellite communications services and equipment at industrial, commercial, and residential sites, as well as rural villages and ships; and data modem services and equipment.