A Director at Globalstar (NYSE: GSAT) is Buying Shares

By Carrie Williams

Today, a Director at Globalstar (NYSE: GSAT), James F. Lynch, bought shares of GSAT for $76K.

Following this transaction James F. Lynch’s holding in the company was increased by 1.59% to a total of $6.01 million. In addition to James F. Lynch, one other GSAT executive reported Buy trades in the last month.

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Based on Globalstar’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $33.73 million and GAAP net loss of $7.01 million. In comparison, last year the company earned revenue of $30.46 million and had a net profit of $52.41 million. GSAT’s market cap is $595.3M and the company has a P/E ratio of 6.74. Currently, Globalstar has an average volume of 3.17M.

The insider sentiment on Globalstar has been positive according to 29 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

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Globalstar, Inc. provides mobile satellite services, voice and data communications services through satellite worldwide. It offers communications services via satellite which includes: two-way voice communication and data transmissions using mobile or fixed devices; and one-way data transmissions using a mobile or fixed device that transmits its location and other information to a central monitoring station. The company provides engineering services, such as hardware and software designs to develop specific applications; and installation of gateways and antennas. It serves to government; public safety and disaster relief; recreation and personal; telecommunications; oil and gas; maritime and fishing; natural resources; construction; utilities; and transportation markets. Globalstar was founded in November 2003 and is headquartered in Covington, LA.