AST SpaceMobile, Inc. (NASDAQ:ASTS) President Sells $62,424.00 in Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS) President Scott Wisniewski sold 2,700 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $23.12, for a total value of $62,424.00. Following the completion of the sale, the president now owns 712,660 shares of the company’s stock, valued at approximately $16,476,699.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

AST SpaceMobile Price Performance

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

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ASTS shares. Deutsche Bank Aktiengesellschaft upped their price target on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. B. Riley upped their target price on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Scotiabank lifted their price target on shares of AST SpaceMobile from $28.00 to $45.90 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. Finally, UBS Group boosted their price target on shares of AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, August 15th.

Hedge Funds Weigh In On AST SpaceMobile

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its stake in shares of AST SpaceMobile by 209.9% in the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock valued at $21,606,000 after purchasing an additional 5,046,667 shares during the period. Vanguard Group Inc. raised its position in AST SpaceMobile by 49.9% in the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after buying an additional 2,217,531 shares during the last quarter. Broad Run Investment Management LLC lifted its stake in AST SpaceMobile by 74.8% in the 4th quarter. Broad Run Investment Management LLC now owns 3,962,853 shares of the company’s stock valued at $23,896,000 after acquiring an additional 1,695,805 shares in the last quarter. Masters Capital Management LLC bought a new stake in AST SpaceMobile in the 1st quarter valued at approximately $2,900,000. Finally, Oppenheimer & Co. Inc. acquired a new position in AST SpaceMobile during the 2nd quarter worth approximately $9,270,000. 60.95% of the stock is owned by institutional investors and hedge funds.

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.