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 that occurred on 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 directly owns 712,660 shares in the company, valued at approximately $16,476,699.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

AST SpaceMobile Trading Up 3.3 %

NASDAQ ASTS traded up $0.83 during trading hours on Monday, hitting $26.15. 15,953,353 shares of the company’s stock were exchanged, compared to its average volume of 10,629,469. The business’s 50 day moving average is $25.48 and its 200-day moving average is $12.94. The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38. AST SpaceMobile, Inc. has a 12-month low of $1.97 and a 12-month high of $39.08. The firm has a market capitalization of $6.73 billion, a P/E ratio of -27.06 and a beta of 1.63.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.05. The company had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $2.00 million. As a group, analysts anticipate that AST SpaceMobile, Inc. will post -0.88 EPS for the current fiscal year.

Hedge Funds Weigh In On AST SpaceMobile

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

Analysts Set New Price Targets

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

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.