Domo signs strategic collaboration agreement with AWS for AI solutions
Globalstar Inc . (NYSE:NASDAQ:GSAT) Vice President of Finance & Operations, Timothy Evan Taylor, has reported significant stock sales according to a recent SEC filing. On March 12 and 13, Taylor sold a total of 52,666 shares of Globalstar’s voting common stock. The transactions, executed under a Rule 10b5-1 trading plan, amounted to approximately $1,144,792. The shares were sold at prices ranging from $21.333 to $22.6119 per share. According to InvestingPro, the stock has seen a significant price decline of 31% year-to-date, while trading at notably high valuation multiples with an EV/EBITDA of 32.15x.
Following these transactions, Taylor retains ownership of 243,900 shares. The sales were conducted through Thermo Investments III, LLC, reflecting indirect ownership by Taylor. While the company maintains strong liquidity with a current ratio of 3.16, investors should note that analysts do not anticipate profitability this year. Discover more comprehensive insider trading analysis and 8 additional key insights with InvestingPro’s detailed research report.
In other recent news, Globalstar Inc. announced its fourth-quarter 2024 earnings, revealing a significant earnings per share (EPS) shortfall. The company reported an EPS of -$0.42, missing the forecasted -$0.0012, despite surpassing revenue expectations 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 growth and new product launches. Globalstar ended the year with a strong cash position of $391.2 million. The company has also been focusing on strategic initiatives, including the launch of new satellite solutions and expansion into 5G. Additionally, Globalstar successfully completed its uplisting to the NASDAQ Global Select market, which aligns with its strategy to increase visibility within the investment community. The company is projecting revenue between $260 million and $285 million for 2025, representing a 9% year-over-year growth. Analyst firms like B. Riley Securities and Morgan Stanley (NYSE:MS) have been actively engaging with Globalstar, discussing future expectations and strategic developments.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.