Over $5M Bet On This Communication Services Stock? Check Out These 3 Penny Stocks Insiders Are Aggressively Buying

The Dow Jones closed lower by over 200 points on Thursday. When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment or trading decision.

Below is a look at a few recent notable insider transactions for penny stocks. For more, check out Benzinga's insider transactions platform.

Globalstar

• The Trade: Globalstar, Inc. GSAT Director James Monroe III acquired a total 5,263,863 shares an average price of $0.98. To acquire these shares, it cost around $5.15 million.
• What’s Happening: Globalstar reported better-than-expected Q1 sales results.
• What Globalstar Does: Globalstar Inc is a telecommunications company that derives revenue from the provision of mobile satellite services.

Glatfelter

• The Trade: Glatfelter Corporation GLT Director Michael Kevin Fogarty acquired a total of 33,422 shares at an average price of $3.63. The insider spent around $121.26 thousand to buy those shares.
• What’s Happening: Glatfelter reported worse-than-expected Q1 sales results.
• What Glatfelter Does: Glatfelter Corporation manufactures and sells a variety of paper and fiber products. The company operates through two segments: Composite Fibers and Airlaid Materials.

Ultralife

• The Trade: Ultralife Corporation ULBI Director Bradford T Whitmore acquired a total of 28,788 shares at an average price of $4.06. To acquire these shares, it cost around $116.78 thousand.
• What’s Happening: Ultralife posted a wider Q1 loss.
• What Ultralife Does: Ultralife Corp provides products and services ranging from power solutions to communications and electronics systems to customers across the globe in the government and defense, medical, safety and security, energy, and industrial sectors.

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