Scott Wisniewski Sells 50,000 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS) President Scott Wisniewski sold 50,000 shares of the company’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $35.65, for a total transaction of $1,782,500.00. Following the transaction, the president now owns 545,595 shares in the company, valued at approximately $19,450,461.75. This trade represents a 8.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Scott Wisniewski also recently made the following trade(s):

• On Monday, June 9th, Scott Wisniewski sold 50,000 shares of AST SpaceMobile stock. The shares were sold at an average price of $35.65, for a total transaction of $1,782,500.00.

AST SpaceMobile Trading Up 11.6%

Shares of ASTS stock traded up $3.63 during trading hours on Monday, reaching $34.82. The company had a trading volume of 33,999,511 shares, compared to its average volume of 12,267,294. AST SpaceMobile, Inc. has a 1-year low of $8.09 and a 1-year high of $39.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The firm has a market cap of $11.02 billion, a price-to-earnings ratio of -16.42 and a beta of 2.02. The company has a 50 day moving average of $24.21 and a 200 day moving average of $24.63.

AST SpaceMobile (NASDAQ:ASTS) last released its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share 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. On average, equities research analysts anticipate that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ASTS. Scotiabank lowered their price target on shares of AST SpaceMobile from $47.90 to $45.40 and set a “sector outperform” rating for the company in a report on Tuesday, May 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Roth Capital assumed coverage on AST SpaceMobile in a research report on Thursday, April 10th. They set a “buy” rating and a $42.00 target price for the company. Oppenheimer initiated coverage on AST SpaceMobile in a research note on Monday, May 5th. They set a “market perform” rating on the stock. Finally, UBS Group lifted their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.40.

Institutional Trading of AST SpaceMobile

A number of hedge funds have recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in AST SpaceMobile during the fourth quarter valued at approximately $46,000. Kingsview Wealth Management LLC grew its holdings in shares of AST SpaceMobile by 23.3% in the 4th quarter. Kingsview Wealth Management LLC now owns 27,633 shares of the company’s stock valued at $583,000 after buying an additional 5,223 shares during the period. Van ECK Associates Corp increased its position in shares of AST SpaceMobile by 150.1% in the 4th quarter. Van ECK Associates Corp now owns 258,747 shares of the company’s stock valued at $5,460,000 after buying an additional 155,310 shares in the last quarter. Rhumbline Advisers raised its stake in AST SpaceMobile by 2.0% during the 4th quarter. Rhumbline Advisers now owns 216,718 shares of the company’s stock worth $4,573,000 after buying an additional 4,168 shares during the period. Finally, Americana Partners LLC raised its stake in AST SpaceMobile by 5.2% during the 4th quarter. Americana Partners LLC now owns 27,047 shares of the company’s stock worth $571,000 after buying an additional 1,326 shares during the period. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.