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Globalstar (NASDAQ:GSAT) General Counsel L Barbee Iv Ponder sold 8,043 shares of the company’s stock on the open market in a transaction dated Monday, August 18th. The stock was sold at an average price of $4.02, for a total value of $32,332.86. Following the completion of the transaction, the general counsel now directly owns 104,938 shares in the company, valued at approximately $421,851. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Separately, analysts at Chardan Capital reiterated a “buy” rating on shares of Globalstar in a research note on Tuesday, August 12th.

Shares of Globalstar (NASDAQ:GSAT) traded down 2.90% during mid-day trading on Wednesday, hitting $4.02. The stock had a trading volume of 1,696,930 shares. Globalstar has a 52 week low of $2.33 and a 52 week high of $4.53. The stock’s 50-day moving average is $4.05 and its 200-day moving average is $3.59. The company’s market cap is $3.977 billion.

Globalstar (NASDAQ:GSAT) last released its earnings data on Monday, August 11th. The company reported ($0.48) earnings per share for the quarter, missing the analysts’ consensus estimate of ($0.04) by $0.44. The company had revenue of $24.00 million for the quarter, compared to the consensus estimate of $21.67 million. Analysts expect that Globalstar will post $-0.80 EPS for the current fiscal year.

Globalstar, Inc (NASDAQ:GSAT) is a provider of mobile voice and data communications services globally via satellite.

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