Broadcom named strategic vendor for Walmart virtualization solutions
Globalstar, Inc. (NYSE:GSAT) recently saw a stock sale by its General Counsel, Ponder L Barbee IV. According to a Form 4 filing with the Securities and Exchange Commission, Barbee sold 252 shares of Globalstar’s voting common stock on March 12, 2025. The shares were sold at an average price of approximately $22.15, amounting to a total transaction value of $5,582. The transaction comes as GSAT’s stock has shown mixed performance, gaining 25% over the past six months while declining nearly 29% year-to-date, according to InvestingPro data.
The sale was executed to cover taxes due upon the vesting of restricted stock, as noted in the filing. Prior to this transaction, Barbee acquired 506 shares of restricted stock on March 10, 2025, as part of an equity incentive plan. These shares were awarded at no cost and vested immediately. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 3.16, while analyst price targets range from $25 to $60.
Following these transactions, Barbee holds 145,374 shares of Globalstar’s voting common stock. For deeper insights into GSAT’s valuation metrics and comprehensive analysis, including 10 key InvestingPro Tips, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, Globalstar Inc (NASDAQ:GSAT). reported its fourth-quarter 2024 earnings, revealing a significant miss in earnings per share (EPS). The company posted an EPS of -$0.42, falling short of the expected -$0.0012. Despite this, Globalstar’s revenue exceeded projections, reaching $61.17 million against a forecast of $60.24 million, marking a 17% increase year-over-year. The company also ended 2024 with a strong cash position of $391.2 million. In terms of strategic initiatives, Globalstar is focusing on launching new satellite solutions and expanding into 5G, with plans to enhance its MSS network capabilities. Additionally, Globalstar has completed its uplisting to the NASDAQ Global Select Market and implemented a reverse stock split to improve trading fundamentals. Looking ahead, the company projects 2025 revenue between $260 million and $285 million, with an anticipated adjusted EBITDA margin of around 50%. CEO Paul Jacobs highlighted the company’s strategic positioning and spectrum resources as key differentiators in the market.
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