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Paul E. Jacobs, the Chief Executive Officer of Globalstar, Inc. (NYSE:GSAT), recently executed a stock transaction involving the company’s voting common stock. On March 12, 2025, Jacobs sold 7,087 shares at an average price of $22.1522 per share, amounting to a total of $156,992. This sale was conducted to cover taxes due upon the vesting of restricted stock. The transaction comes as GSAT trades at $22.19, down nearly 29% year-to-date but showing a strong 25% gain over the past six months, according to InvestingPro data.
Earlier, on March 10, 2025, Jacobs acquired 13,806 shares of Globalstar’s voting common stock as part of an award of restricted stock under the company’s Equity Incentive Plan, which vested immediately upon the grant. This acquisition was at no cost. InvestingPro analysis shows GSAT currently trades at elevated multiples, with an EV/EBITDA ratio of 33.3x, while maintaining a healthy current ratio of 3.16x. Subscribers can access 8 more exclusive InvestingPro Tips for deeper insights into GSAT’s valuation and prospects.
Post these transactions, Jacobs directly owns 12,374 shares of Globalstar’s voting common stock. Additionally, he holds indirect ownership of 209,546 shares through Virewirx, Inc. (formerly XCOM Labs, Inc.) and 1,116,400 shares through a trust. The company maintains an overall Financial Health score of "FAIR" based on InvestingPro’s comprehensive analysis of growth, profitability, and momentum metrics.
In other recent news, Globalstar Inc (NASDAQ:GSAT). reported its fourth-quarter 2024 earnings, revealing a significant shortfall in earnings per share (EPS) compared to expectations. The company posted an EPS of -$0.42, missing the forecast of -$0.0012, despite achieving a revenue beat with $61.17 million against a forecast of $60.24 million. Revenue for the quarter increased by 17% year-over-year, driven by service revenue increases and new product launches. The company ended 2024 with a strong cash position of $391.2 million. Strategic initiatives include the launch of new satellite solutions and expansion into 5G. Globalstar also completed its uplisting to the NASDAQ Global Select Market and implemented a one-for-15 reverse stock split to enhance stock liquidity. Analyst feedback from firms like B. Riley Securities and Morgan Stanley (NYSE:MS) focused on the company’s ExCom RAN and MSS product development, with expectations of revenue generation in the near term. Globalstar projects revenue between $260 million and $285 million for 2025, with an adjusted EBITDA margin around 50%.
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