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 business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $23.12, for a total value of $62,424.00. Following the transaction, the president now directly owns 712,660 shares in the company, valued at $16,476,699.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

AST SpaceMobile Stock Up 3.3 %

NASDAQ ASTS traded up $0.83 on Monday, hitting $26.15. 15,953,353 shares of the stock traded hands, compared to its average volume of 10,629,469. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.83. The stock has a 50-day moving average of $25.48 and a 200 day moving average of $12.94. AST SpaceMobile, Inc. has a twelve month low of $1.97 and a twelve month high of $39.08. The company 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 (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.05. The firm had revenue of $0.90 million for the quarter, compared to the consensus estimate of $2.00 million. As a group, analysts expect that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ASTS. UBS Group lifted their price objective on shares of AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. B. Riley increased their target price on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Scotiabank raised 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, Deutsche Bank Aktiengesellschaft upped their price target on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 4th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ASTS. BNP Paribas bought a new stake in AST SpaceMobile in the first quarter valued at $43,000. Principal Financial Group Inc. bought a new stake in AST SpaceMobile in the 1st quarter valued at about $45,000. Cantor Fitzgerald L. P. acquired a new position in AST SpaceMobile during the 4th quarter valued at about $66,000. Rathbones Group PLC acquired a new stake in shares of AST SpaceMobile in the fourth quarter valued at approximately $76,000. Finally, Black Maple Capital Management LP bought a new stake in shares of AST SpaceMobile during the first quarter valued at approximately $87,000. 60.95% of the stock is currently owned by institutional investors.

About AST SpaceMobile

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.