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In a recent transaction, Monroe James III, a director and ten percent owner of Globalstar, Inc. (NYSE:NASDAQ:GSAT), acquired a significant amount of the company’s stock. On March 28, 2025, James purchased 209,546 shares of Globalstar’s voting common stock at a price of $22.52 per share, below the stock’s 52-week high of $41.10. This acquisition, which amounts to a total value of approximately $4.7 million, was conducted through Thermo XCOM LLC in a private transaction. According to InvestingPro data, analyst price targets for GSAT range from $25 to $60, suggesting potential upside from current levels.
Following this purchase, James’s indirect holdings in Globalstar increased, with various entities under his control, such as Thermo Funding Company and Thermo Funding II LLC, holding substantial shares in the company. The company maintains strong financial health with a current ratio of 3.16, while posting revenue growth of 11.86% over the last twelve months. This transaction was executed as part of a private agreement with Virewirx, Inc., formerly known as XCom Labs, Inc., and was exempt from the registration requirements of the Securities Act of 1933. For deeper insights into GSAT’s valuation and growth prospects, investors can access the comprehensive research report available on InvestingPro.
In other recent news, Globalstar, Inc. reported its fourth-quarter 2024 earnings, which showed a notable earnings per share (EPS) miss. The company posted an EPS of -$0.42, significantly below the forecasted -$0.0012. However, Globalstar’s revenue exceeded expectations, reaching $61.17 million against a forecast of $60.24 million, marking a 17% increase year-over-year. The company also ended the year with a strong cash position of $391.2 million. In addition to its financial results, Globalstar inaugurated a new Satellite Operations Control Center at its headquarters in Covington, Louisiana, enhancing its satellite management capabilities.
Furthermore, Globalstar has been actively expanding its services and infrastructure, including the launch of new satellite solutions and a foray into 5G technology. The company has also announced plans to create 75 new jobs in Louisiana by the end of the year. Analyst firms such as B. Riley Securities and Morgan Stanley (NYSE:MS) participated in the earnings call, showing interest in Globalstar’s strategic initiatives and future guidance. Globalstar projects 2025 revenue between $260 million and $285 million, aiming for an adjusted EBITDA margin of around 50%. The company continues to focus on leveraging its extensive spectrum resources and expanding its product offerings.
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