From MarketBeat:



The share price of Globalstar, Inc. rose by 9.9% after an insider bought additional shares in the company. This increase in trading activity saw 9,667,074 shares change hands, an increase of 101% from the average daily volume. The director, James F. Lynch, bought 250,000 shares at an average price of $1.67 per share, totaling $417,500. This purchase was disclosed to the Securities and Exchange Commission. In related news, General Counsel L Barbee Iv Ponder sold 188,300 shares of Globalstar stock at an average price of $1.36, totaling $256,088. 62.00% of the stock is owned by corporate insiders. Research analysts from StockNews.com and TheStreet have raised the company’s rating from “sell” to “hold”, and from “d” to “c-“, respectively. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 169.00, and institutional investors have recently added to or reduced their stakes in the company. Globalstar, Inc provides mobile satellite services worldwide and offers voice and data satellite communications services and equipment. This information was generated by narrative science technology and financial data from MarketBeat and was reviewed by MarketBeat’s editorial team prior to publication. MarketBeat has also identified five stocks that are better buys than Globalstar according to top-rated analysts.



Original: Globalstar (NYSE:GSAT) Shares Up 9.9% on Insider Buying Activity