Shanti B. Gupta Sells 80,000 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS) COO Shanti B. Gupta sold 80,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $25.83, for a total value of $2,066,400.00. Following the transaction, the chief operating officer now owns 393,232 shares in the company, valued at $10,157,182.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

AST SpaceMobile Stock Performance

Shares of ASTS opened at $23.84 on Thursday. The company has a market capitalization of $6.14 billion, a price-to-earnings ratio of -24.33 and a beta of 1.63. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83. AST SpaceMobile, Inc. has a 52-week low of $1.97 and a 52-week high of $39.08. The stock has a 50 day moving average price of $26.16 and a 200 day moving average price of $13.33.

AST SpaceMobile (NASDAQ:ASTS) last posted its earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.05. The firm had revenue of $0.90 million during the quarter, compared to analysts’ expectations of $2.00 million. Research analysts predict that AST SpaceMobile, Inc. will post -0.88 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ASTS has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. UBS Group raised their price target on AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. B. Riley lifted their price objective on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Scotiabank upped their price target on AST SpaceMobile from $28.00 to $45.90 and gave the stock a “sector outperform” rating in a report on Monday, August 26th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ASTS. Victory Capital Management Inc. lifted its stake in shares of AST SpaceMobile by 5.5% in the 2nd quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock worth $180,000 after acquiring an additional 814 shares during the period. Accordant Advisory Group Inc grew its holdings in AST SpaceMobile by 2.0% in the second quarter. Accordant Advisory Group Inc now owns 162,823 shares of the company’s stock valued at $1,890,000 after purchasing an additional 3,146 shares during the last quarter. MBE Wealth Management LLC grew its stake in AST SpaceMobile by 34.1% in the 2nd quarter. MBE Wealth Management LLC now owns 27,000 shares of the company’s stock valued at $313,000 after acquiring an additional 6,870 shares during the last quarter. Cantor Fitzgerald L. P. acquired a new stake in shares of AST SpaceMobile in the fourth quarter valued at approximately $66,000. Finally, Calton & Associates Inc. purchased a new position in AST SpaceMobile during the second quarter worth $128,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

AST SpaceMobile Company Profile

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.