In a filing, Globalstar Inc. revealed its VP & Chief Financial Officer Clary Rebecca unloaded Company’s shares for reported $0.1 million on Mar 15 ’24. In the deal valued at $1.39 per share,75,000 shares were sold. As a result of this transaction, Clary Rebecca now holds 1,568,745 shares worth roughly $2.09 million.
Then, Taylor Timothy Evan sold 395,000 shares, generating $565,324 in total proceeds. Upon selling the shares at $1.43, the VP, Finance & Operations now owns 10,673,649 shares.
Before that, Lynch James F bought 660,000 shares. Globalstar Inc. shares valued at $960,300 were divested by the Director at a price of $1.46 per share. As a result of the transaction, Lynch James F now holds 12,340,720 shares, worth roughly $16.41 million.
Imperial Capital initiated its Globalstar Inc. [GSAT] rating to an Outperform in a research note published on August 04, 2023; the price target was $7.79. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who increased its forecast for the stock in early May from “an Underweight” to “an Equal-weight”. Craig Hallum began covering GSAT with “Buy” recommendation on October 31, 2022. B. Riley Securities started covering the stock on June 21, 2021. It rated GSAT as “a Buy”.
Price Performance Review of GSAT
On Friday, Globalstar Inc. [AMEX:GSAT] saw its stock jump 0.76% to $1.33. Over the last five days, the stock has lost -0.75%. Globalstar Inc. shares have fallen nearly -31.44% since the year began. Nevertheless, the stocks have risen 23.15% over the past one year. While a 52-week high of $2.13 was reached on 01/09/24, a 52-week low of $0.85 was recorded on 03/06/24. SMA at 50 days reached $1.4808, while 200 days put it at $1.4133. A total of 3.56 million shares were traded, compared to the trading of 1.76 million shares in the previous session.
Levels Of Support And Resistance For GSAT Stock
The 24-hour chart illustrates a support level at 1.3067, which if violated will result in even more drops to 1.2833. On the upside, there is a resistance level at 1.3467. A further resistance level may holdings at 1.3633. The Relative Strength Index (RSI) on the 14-day chart is 43.98, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.0314, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 78.95%. Stochastics %K at 15.79% indicates the stock is a buying.
