AST SpaceMobile, Inc. (NASDAQ:ASTS) COO Shanti B. Gupta Sells 10,000 Shares

AST SpaceMobile, Inc. (NASDAQ:ASTS) COO Shanti B. Gupta sold 10,000 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $41.84, for a total value of $418,400.00. Following the completion of the sale, the chief operating officer now owns 305,667 shares in the company, valued at approximately $12,789,107.28. The trade was a 3.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

AST SpaceMobile Stock Up 9.2%

Shares of NASDAQ:ASTS opened at $41.91 on Tuesday. AST SpaceMobile, Inc. has a 52-week low of $9.32 and a 52-week high of $42.93. The stock has a market cap of $13.26 billion, a P/E ratio of -19.77 and a beta of 2.02. The business’s 50 day moving average is $26.17 and its 200 day moving average is $25.20. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31.

AST SpaceMobile (NASDAQ:ASTS) last announced 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 company had revenue of $0.72 million during the quarter, compared to the consensus estimate of $3.85 million. Sell-side analysts predict that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price target on shares of AST SpaceMobile in a report on Tuesday, March 4th. Roth Capital assumed coverage on AST SpaceMobile in a report on Thursday, April 10th. They issued a “buy” rating and a $42.00 price target on the stock. Oppenheimer assumed coverage on AST SpaceMobile in a report on Monday, May 5th. They issued a “market perform” rating on the stock. UBS Group increased their price target on AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Finally, B. Riley increased their price target on AST SpaceMobile from $36.00 to $44.00 and gave the stock a “buy” rating in a report on Monday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, AST SpaceMobile currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.73.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sunbelt Securities Inc. grew its stake in AST SpaceMobile by 61.9% in 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. GAMMA Investing LLC boosted its position in AST SpaceMobile by 388.7% during the 1st quarter. GAMMA Investing LLC now owns 1,559 shares of the company’s stock valued at $35,000 after acquiring an additional 1,240 shares in the last quarter. Summit Securities Group LLC bought a new stake in AST SpaceMobile during the 4th quarter valued at $37,000. Financial Gravity Asset Management Inc. bought a new stake in AST SpaceMobile during the 1st quarter valued at $41,000. Finally, Close Asset Management Ltd boosted its position in AST SpaceMobile by 72.4% during the 1st quarter. Close Asset Management Ltd now owns 1,810 shares of the company’s stock valued at $41,000 after acquiring an additional 760 shares in the last quarter. 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.