Urgent.ly Inc. (NASDAQ:ULY) director Ben Volkow has sold a total of 4,700 shares of the company's common stock for a combined value exceeding $8,500, according to a recent filing with the Securities and Exchange Commission. The transactions occurred on June 11 and June 12, with shares sold at prices ranging from $1.8003 to $1.835.
On June 11, Volkow sold 3,800 shares at a weighted average price of $1.835, and on the following day, he sold an additional 900 shares at a weighted average price of $1.8003. The sales were executed under a pre-arranged Rule 10b5-1 trading plan, which Volkow had adopted on November 20, 2023.
After the reported transactions, Volkow continues to hold 511,266 shares of Urgent.ly Inc., indicating a continued vested interest in the company. The sales took place within a price range specified in the footnotes of the SEC filing, and further details regarding the number of shares sold at each separate price can be provided upon request.
Investors often monitor insider transactions as they can provide insights into the company's financial health and the confidence level of its executives and directors. Urgent.ly Inc., a player in the computer processing and data preparation industry, has thus disclosed these transactions in compliance with SEC regulations, providing transparency for its investors and the public.
In other recent news, Urgent.ly, a roadside assistance technology specialist, has seen its stock target cut from $7 to $5 by Needham, a prominent investment firm. This move comes in response to Urgent.ly's latest quarterly results and recent company developments. The firm, however, maintains a Buy rating for the stock. A significant new customer win with a top 5 global OEM has been disclosed, offering a substantial growth opportunity. On the flip side, Urgent.ly lost a legacy customer that contributed approximately 25% of its revenues, leading to a more cautious valuation approach. Despite this setback, Urgent.ly has reiterated its guidance for positive non-GAAP earnings by the third quarter of 2024 and reaffirmed its longer-term growth and margin targets. These are recent developments reflecting the company's strategic direction and financial health.
InvestingPro Insights
Recent market data for Urgent.ly Inc. (NASDAQ:ULY) provides a deeper context into the company’s financials and stock performance. With a modest market capitalization of $24.03 million, Urgent.ly is navigating through challenging times, as reflected in its recent stock activity and financial metrics. The company's stock has suffered a significant decline over the past week, with a 1-week price total return of -7.73%, and this trend extends over longer periods, with a 6-month price total return of -39.32%.
Analysts have raised concerns about the company's financial health, as indicated by an InvestingPro Tip that Urgent.ly is quickly burning through cash. This situation is further compounded by another tip highlighting that the company's short-term obligations exceed its liquid assets, which could pose liquidity risks. Moreover, the company's revenue has experienced a decline over the last twelve months, with a reported -11.09% revenue growth.
Despite these challenges, Urgent.ly remains profitable over the last twelve months, as shown by a basic EPS of 13.09 USD. However, the company's stock is trading at a low revenue valuation multiple, which could signal that the market has not fully recognized its earnings potential. For investors interested in a more comprehensive analysis, there are additional InvestingPro Tips available for Urgent.ly, which can be accessed with an exclusive offer: use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With 12 more tips available on InvestingPro, investors can gain a more nuanced understanding of the company's prospects and make informed decisions.
The next earnings date is set for August 28, 2024, which will provide further insights into the company's financial trajectory. As Urgent.ly navigates its current financial landscape, investors will be closely monitoring these developments.
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