Andrew Martin Johnson Sells 10,000 Shares of AST SpaceMobile (NASDAQ:ASTS) Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS) CFO Andrew Martin Johnson sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 26th. The stock was sold at an average price of $56.00, for a total value of $560,000.00. Following the sale, the chief financial officer directly owned 387,485 shares of the company’s stock, valued at $21,699,160. The trade was a 2.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

AST SpaceMobile Trading Up 1.8%

ASTS traded up $1.00 during mid-day trading on Friday, hitting $56.52. 4,225,695 shares of the stock were exchanged, compared to its average volume of 12,020,432. AST SpaceMobile, Inc. has a 1-year low of $17.50 and a 1-year high of $102.79. The firm’s fifty day moving average is $67.61 and its two-hundred day moving average is $51.22. The company has a market cap of $20.74 billion, a PE ratio of -45.58 and a beta of 2.46. The company has a current ratio of 9.56, a quick ratio of 9.48 and a debt-to-equity ratio of 0.43.

AST SpaceMobile (NASDAQ:ASTS) last issued its earnings results on Monday, November 10th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.27). The firm had revenue of $14.74 million during the quarter, compared to analyst estimates of $22.04 million. AST SpaceMobile had a negative net margin of 1,639.59% and a negative return on equity of 27.76%. The firm’s revenue was up 1236.4% compared to the same quarter last year. During the same period last year, the business earned ($1.10) EPS. Equities analysts forecast that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ASTS. Weiss Ratings reissued a “sell (e+)” rating on shares of AST SpaceMobile in a research report on Monday. William Blair assumed coverage on AST SpaceMobile in a report on Thursday, August 21st. They issued a “market perform” rating for the company. Barclays cut AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 target price for the company. in a research report on Friday, October 17th. Scotiabank raised AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $45.60 price objective for the company in a report on Monday. Finally, Roth Capital restated a “buy” rating on shares of AST SpaceMobile in a research report on Tuesday, August 12th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $45.66.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Rakuten Group Inc. acquired a new position in shares of AST SpaceMobile in the first quarter worth $705,398,000. Jump Financial LLC acquired a new stake in shares of AST SpaceMobile during the first quarter worth $14,750,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of AST SpaceMobile in the second quarter valued at $21,754,000. State of New Jersey Common Pension Fund D boosted its stake in AST SpaceMobile by 14.0% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 77,159 shares of the company’s stock worth $3,606,000 after buying an additional 9,448 shares during the last quarter. Finally, Sender Co & Partners Inc. boosted its stake in AST SpaceMobile by 44.8% in the 1st quarter. Sender Co & Partners Inc. now owns 295,376 shares of the company’s stock worth $6,717,000 after buying an additional 91,352 shares during the last quarter. 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.