AST SpaceMobile (NASDAQ:ASTS) COO Shanti Gupta Sells 10,000 Shares of Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS) COO Shanti Gupta sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $77.34, for a total value of $773,400.00. Following the transaction, the chief operating officer owned 382,375 shares of the company’s stock, valued at $29,572,882.50. This trade represents a 2.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

AST SpaceMobile Stock Performance

Shares of NASDAQ:ASTS opened at $76.70 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 9.56 and a quick ratio of 9.48. The business’s fifty day moving average price is $71.03 and its two-hundred day moving average price is $54.57. AST SpaceMobile, Inc. has a fifty-two week low of $17.50 and a fifty-two week high of $102.79. The stock has a market capitalization of $28.15 billion, a price-to-earnings ratio of -61.85 and a beta of 2.76.

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

Institutional Trading of AST SpaceMobile

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Townsquare Capital LLC bought a new position in shares of AST SpaceMobile in the 1st quarter valued at about $388,000. Nuveen LLC acquired a new position in AST SpaceMobile in the first quarter valued at approximately $9,218,000. HighTower Advisors LLC lifted its holdings in AST SpaceMobile by 174.6% in the first quarter. HighTower Advisors LLC now owns 206,289 shares of the company’s stock valued at $4,691,000 after buying an additional 131,171 shares during the period. Algert Global LLC boosted its stake in AST SpaceMobile by 111.1% in the first quarter. Algert Global LLC now owns 55,950 shares of the company’s stock valued at $1,272,000 after acquiring an additional 29,450 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in AST SpaceMobile by 2.7% during the 1st quarter. Northern Trust Corp now owns 1,266,315 shares of the company’s stock worth $28,796,000 after acquiring an additional 33,259 shares during the period. 60.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ASTS has been the topic of several research analyst reports. UBS Group cut shares of AST SpaceMobile from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $62.00 to $43.00 in a research note on Tuesday, September 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of AST SpaceMobile in a report on Monday. Scotiabank upgraded AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $45.60 price target on the stock in a research report on Monday, November 24th. William Blair initiated coverage on AST SpaceMobile in a research report on Thursday, August 21st. They issued a “market perform” rating for the company. Finally, Barclays lowered AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 price objective on the stock. in a research note on Friday, October 17th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $45.66.

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.