Globalstar (NYSEARCA:GSAT) Price Target Raised to $60.00

Globalstar (NYSEARCA:GSAT) had its target price increased by B. Riley from $4.00 to $60.00 in a report released on Wednesday morning,Benzinga reports. B. Riley currently has a buy rating on the stock. B. Riley also issued estimates for Globalstar’s Q4 2025 earnings at ($0.01) EPS, FY2026 earnings at $0.10 EPS and FY2027 earnings at $0.42 EPS.

Other research analysts also recently issued reports about the company. StockNews.com upgraded Globalstar from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Craig Hallum upped their price objective on Globalstar from $4.00 to $5.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

Globalstar Stock Up 3.2 %

Globalstar stock opened at $23.01 on Wednesday. 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 stock has a 50-day simple moving average of $4.81. Globalstar has a 52 week low of $15.00 and a 52 week high of $41.10. The stock has a market cap of $43.59 billion, a price-to-earnings ratio of -767.00 and a beta of 1.07.

Insider Activity

In other 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 transaction, the chief executive officer now directly owns 84,815 shares of the company’s stock, valued at $185,744.85. The trade was a 14.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director James Monroe III bought 500,000 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were purchased at an average price of $2.10 per share, with a total value of $1,050,000.00. Following the acquisition, the director now directly owns 11,334,090 shares in the company, valued at approximately $23,801,589. This trade represents a 4.62 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 3,030,000 shares of company stock valued at $5,987,000 and sold 3,680,851 shares valued at $8,136,154. Company insiders own 60.76% of the company’s stock.

Institutional Investors Weigh In On Globalstar

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC boosted its position in Globalstar by 24.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 247,342 shares of the company’s stock valued at $307,000 after buying an additional 48,566 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in Globalstar by 13.9% in the third quarter. Harbor Capital Advisors Inc. now owns 489,755 shares of the company’s stock valued at $607,000 after buying an additional 59,954 shares during the last quarter. Van ECK Associates Corp raised its stake in Globalstar by 34.2% during the third quarter. Van ECK Associates Corp now owns 452,267 shares of the company’s stock valued at $561,000 after buying an additional 115,359 shares in the last quarter. CWA Asset Management Group LLC bought a new position in Globalstar during the 3rd quarter worth approximately $27,000. Finally, Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Globalstar in the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 18.89% of the company’s stock.

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.