Huiwen Yao Sells 55,000 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS) CTO Huiwen Yao sold 55,000 shares of AST SpaceMobile stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $26.82, for a total value of $1,475,100.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

AST SpaceMobile Price Performance

AST SpaceMobile stock traded down $2.05 during trading hours on Monday, hitting $24.61. 17,419,176 shares of the stock were exchanged, compared to its average volume of 12,596,871. AST SpaceMobile, Inc. has a 12 month low of $4.00 and a 12 month high of $39.08. The business’s 50-day moving average is $24.39 and its two-hundred day moving average is $24.51. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The stock has a market capitalization of $7.79 billion, a P/E ratio of -11.61 and a beta of 2.05.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The business had revenue of $0.72 million during the quarter, compared to analysts’ expectations of $3.85 million. Equities research analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Analyst Ratings Changes

ASTS has been the topic of a number of recent research reports. UBS Group lifted their price target on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Oppenheimer began coverage on shares of AST SpaceMobile in a research note on Monday, May 5th. They issued a “market perform” rating on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price target on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Roth Capital initiated coverage on AST SpaceMobile in a report on Thursday, April 10th. They set a “buy” rating and a $42.00 price objective on the stock. Finally, Scotiabank dropped their target price on AST SpaceMobile from $47.90 to $45.40 and set a “sector outperform” rating for the company in a report on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.40.

Institutional Investors Weigh In On AST SpaceMobile

A number of hedge funds have recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. lifted its position in shares of AST SpaceMobile by 61.9% during the first quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company’s stock worth $30,000 after purchasing an additional 505 shares in the last quarter. Xponance Inc. raised its position in AST SpaceMobile by 5.9% in the 1st quarter. Xponance Inc. now owns 10,244 shares of the company’s stock worth $233,000 after purchasing an additional 568 shares during the last quarter. Close Asset Management Ltd lifted its holdings in AST SpaceMobile by 72.4% during the 1st quarter. Close Asset Management Ltd now owns 1,810 shares of the company’s stock worth $41,000 after buying an additional 760 shares in the last quarter. KBC Group NV boosted its position in AST SpaceMobile by 15.6% in the 1st quarter. KBC Group NV now owns 7,525 shares of the company’s stock valued at $171,000 after buying an additional 1,016 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in shares of AST SpaceMobile by 106.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock valued at $53,000 after buying an additional 1,222 shares during the period. Institutional investors own 60.95% of the company’s stock.

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.