Urgent.ly Inc. (NASDAQ:ULY) director Ben Volkow has recently sold a portion of his company shares, with transactions totaling over $6,000. The sales were conducted on two separate days, with prices for the shares ranging between $1.62 and $1.91.
The first sale occurred on June 13, 2024, when Volkow sold 2,700 shares of Urgent.ly Inc. common stock at a weighted average price of $1.7772 per share. The second sale took place the following day, on June 14, with 800 shares sold at a weighted average price of $1.8059 per share. The combined sales resulted in a total transaction value exceeding $6,243.
It's important for investors to note that these sales were executed under a Rule 10b5-1 trading plan, which Volkow had adopted on November 20, 2023. Such a plan allows company insiders to establish pre-planned transactions at a time when they are not in possession of material non-public information, providing a defense against accusations of insider trading.
Following these transactions, Ben Volkow's ownership in Urgent.ly Inc. stands at 507,766 shares. The price ranges for these sales were provided as per regulatory requirements, with the exact number of shares sold at each price available upon request from the issuer, any security holder, or the SEC staff.
Investors and followers of Urgent.ly Inc. can stay informed of further insider transactions by monitoring SEC filings and company announcements.
InvestingPro Insights
As Urgent.ly Inc. (NASDAQ:ULY) navigates through the challenges of the market, recent metrics and analysis from InvestingPro provide a deeper understanding of the company's financial health and stock performance. With a market capitalization of $24.03 million, Urgent.ly is currently facing a tough period, as reflected in the company's recent financial data and stock activity.
InvestingPro data reveals that Urgent.ly has experienced a revenue decline over the last twelve months as of Q1 2024, with a -11.09% change. This is further exacerbated by a quarterly revenue drop of -19.13% in Q1 2024. These figures are particularly relevant for investors considering the recent insider sales and may indicate underlying challenges in the company's operations. Additionally, Urgent.ly's gross profit margin stands at 21.68%, which InvestingPro Tips highlight as weak, suggesting that the company is facing difficulty in maintaining profitability relative to its revenues.
The stock's performance also raises concerns, with a one-month price total return of -25.21% and a six-month return of -34.18%, indicating a significant downturn in investor confidence. Moreover, Urgent.ly's stock has been trading at a low revenue valuation multiple, with a price to earnings (P/E) ratio of -2.43 for the last twelve months as of Q1 2024, reinforcing the notion that the market has a bearish outlook on the company's earnings potential.
InvestingPro Tips further suggest caution, noting that the company is quickly burning through cash and that its short-term obligations exceed its liquid assets. This could potentially lead to liquidity issues if not addressed promptly. Additionally, Urgent.ly does not pay a dividend to shareholders, which might deter income-focused investors.
For those interested in a comprehensive analysis, there are additional InvestingPro Tips available for Urgent.ly. These can provide further context and guidance on the company's financial position and stock performance. To access these insights, visit https://www.investing.com/pro/ULY and use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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