Huiwen Yao Sells 45,000 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS) CTO Huiwen Yao sold 45,000 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $24.26, for a total value of $1,091,700.00. Following the completion of the transaction, the chief technology officer now directly owns 55,000 shares of the company’s stock, valued at approximately $1,334,300. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

AST SpaceMobile Trading Up 4.8 %

Shares of AST SpaceMobile stock opened at $24.18 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38. The stock has a market capitalization of $6.23 billion, a PE ratio of -24.67 and a beta of 1.62. AST SpaceMobile, Inc. has a 1-year low of $1.97 and a 1-year high of $39.08. The company’s fifty day simple moving average is $26.90 and its 200-day simple moving average is $14.28.

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On AST SpaceMobile

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASTS. Cantor Fitzgerald L. P. bought a new position in shares of AST SpaceMobile in the fourth quarter worth approximately $66,000. Broad Run Investment Management LLC lifted its stake in shares of 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 valued at $23,896,000 after buying an additional 1,695,805 shares in the last quarter. Virtu Financial LLC purchased a new stake in AST SpaceMobile in the 4th quarter worth $259,000. PNC Financial Services Group Inc. raised its holdings in AST SpaceMobile by 319.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 163,296 shares of the company’s stock valued at $985,000 after acquiring an additional 124,322 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in shares of AST SpaceMobile in the first quarter valued at about $45,000. 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.