Globalstar Sees Massive Spike in Call Options as Analysts Raise Ratings

Globalstar, Inc. (NASDAQ: GSAT) experienced an unusually large surge in call option activity on Monday, with traders purchasing 5,946 call contracts. That volume represents a 389% increase over the stock's average daily call volume of 1,216 contracts. Analysts have recently adjusted their stances on Globalstar. Zacks Research raised its rating to a “strong-buy” on August 11, while Wall Street Zen moved its recommendation from “sell” to “hold” on June 23. Market data now shows an average analyst view of “Strong Buy.” Institutional investors also boosted their exposure to the company during the second quarter. Osaic Holdings increased its stake by 640.4% to 3,302 shares, valued at about $78,000. Tower Research Capital expanded its position by 394.9% to 6,745 shares, roughly $159,000. The State of Wyoming grew its holding by 82.3% to 3,963 shares, and MRP Capital Investments established a new position worth about $64,000. Cannell Capital modestly raised its stake to 51,320 shares, valued near $1.21 million. Institutional and hedge fund ownership stands at approximately 18.89%. Shares jumped $6.71 on the session to close at $37.94, with trading volume of 3,862,326 shares versus an a...