Globalstar, Inc. (NYSE:GSAT) Position Decreased by Penserra Capital Management LLC

Penserra Capital Management LLC trimmed its holdings in shares of Globalstar, Inc. (NYSE:GSAT) by 1.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,326,224 shares of the company’s stock after selling 15,664 shares during the quarter. Penserra Capital Management LLC’s holdings in Globalstar were worth $1,644,000 at the end of the most recent reporting period.

Separately, Charles Schwab Investment Management Inc. boosted its stake in shares of Globalstar by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,186,012 shares of the company’s stock worth $7,671,000 after acquiring an additional 196,644 shares in the last quarter. Hedge funds and other institutional investors own 18.89% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Globalstar from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.

Globalstar Price Performance

Shares of GSAT opened at $1.82 on Wednesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.99 and a current ratio of 1.09. Globalstar, Inc. has a 1-year low of $1.00 and a 1-year high of $2.13. The stock has a market capitalization of $3.44 billion, a P/E ratio of -60.67 and a beta of 0.88.

About Globalstar

GLOBALSTAR INC offers satellite voice and data services to commercial and recreational users in more than 120 countries around the world. Globalstar’s products include mobile and fixed satellite telephones, simplex and duplex satellite data modems and flexible service packages. Many land based and maritime industries benefit from Globalstar with increased productivity from remote areas beyond cellular and landline service.