Globalstar, Inc. (NYSEAMERICAN:GSAT) Short Interest Up 20.2% in February

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

Analyst Upgrades and Downgrades

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

Globalstar Trading Up 4.4 %

NYSEAMERICAN:GSAT traded up $0.92 during trading hours on Wednesday, hitting $21.70. The company had a trading volume of 694,796 shares, compared to its average volume of 946,900. Globalstar has a 1 year low of $15.00 and a 1 year high of $41.10. The firm has a market capitalization of $2.74 billion, a P/E ratio of -48.25 and a beta of 1.03. The business’s 50-day moving average price is $25.17. 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 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.