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 AST SpaceMobile stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the completion of the transaction, the chief operating officer now owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AST SpaceMobile Stock Performance

NASDAQ:ASTS traded up $0.83 during midday trading on Monday, reaching $26.15. The stock had a trading volume of 15,953,353 shares, compared to its average volume of 10,629,469. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83. The stock has a market cap of $6.73 billion, a P/E ratio of -27.06 and a beta of 1.63. The firm has a fifty day simple moving average of $25.48 and a two-hundred day simple moving average of $12.94. AST SpaceMobile, Inc. has a 12-month low of $1.97 and a 12-month high of $39.08.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. The firm had revenue of $0.90 million for the quarter, compared to analyst estimates of $2.00 million. On average, equities analysts expect that AST SpaceMobile, Inc. will post -0.88 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On AST SpaceMobile

A number of large investors have recently modified their holdings of the business. BNP Paribas purchased a new stake in shares of AST SpaceMobile in the first quarter valued at approximately $43,000. Principal Financial Group Inc. acquired a new stake in AST SpaceMobile in the first quarter valued at $45,000. Cantor Fitzgerald L. P. acquired a new stake in AST SpaceMobile in the fourth quarter valued at $66,000. Rathbones Group PLC purchased a new stake in shares of AST SpaceMobile during the 4th quarter worth $76,000. Finally, Black Maple Capital Management LP acquired a new position in shares of AST SpaceMobile during the 1st quarter worth $87,000. 60.95% of the stock is owned by hedge funds and other 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.