Intel stock spikes after report of possible US government stake
Globalstar, Inc. (NYSE:GSAT) recently saw stock transactions involving its General Counsel, Ponder L Barbee IV. According to a recent SEC filing, Barbee sold 488 shares of Globalstar’s voting common stock on March 11, 2025, at prices ranging from $21.50 to $21.90 per share. The total value of this sale amounted to $10,594. The sale comes as the stock trades near $21.73, down nearly 29% year-to-date, though maintaining a healthy current ratio of 3.16, according to InvestingPro data.
Additionally, Barbee acquired 3,032 shares of restricted stock on March 7, 2025, as part of an award under Globalstar’s 2006 Equity Incentive Plan. This award had no immediate cash value, as the shares were granted at a price of $0. Notably, one-third of these shares vested immediately upon grant, with the remainder set to vest over the next two years. With the company trading at high valuation multiples and analysts projecting continued losses for 2025, investors can access detailed analysis and 8 additional key insights through InvestingPro.
Following these transactions, Barbee’s direct ownership of Globalstar shares stands at 145,120 shares, reflecting adjustments due to a 1-for-15 reverse stock split that took effect on February 10, 2025. The company’s revenue grew 11.9% in the last twelve months to $250.4 million, with a gross profit margin of 67%.
In other recent news, Globalstar Inc (NASDAQ:GSAT). reported its fourth-quarter 2024 earnings, revealing a notable earnings per share (EPS) miss. The company posted an EPS of -$0.42, significantly underperforming the forecast of -$0.0012. However, Globalstar’s revenue for the quarter exceeded expectations, reaching $61.17 million against a forecast of $60.24 million, marking a 17% year-over-year increase. Additionally, Globalstar ended 2024 with a strong cash position of $391.2 million. The company has also announced its strategic initiatives, including the launch of new satellite solutions and expansion into 5G. In terms of analyst perspectives, no specific upgrades or downgrades were mentioned. Globalstar has recently completed its uplisting to the NASDAQ Global Select Market and implemented a reverse stock split to enhance stock liquidity. Looking ahead, Globalstar projects 2025 revenue between $260 million and $285 million, with plans to expand its MSS network capabilities.
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