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

AST SpaceMobile, Inc. (NASDAQ:ASTS) COO Shanti Gupta sold 10,000 shares of the company’s stock in a transaction 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 in the company, valued at $29,572,882.50. This trade represents a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AST SpaceMobile Trading Down 9.5%

Shares of NASDAQ ASTS opened at $76.70 on Friday. AST SpaceMobile, Inc. has a twelve month low of $17.50 and a twelve month high of $102.79. The company has a current ratio of 9.56, a quick ratio of 9.48 and a debt-to-equity ratio of 0.43. The stock has a fifty day simple moving average of $71.03 and a 200-day simple moving average of $54.77. The stock has a market capitalization of $28.15 billion, a PE ratio of -61.85 and a beta of 2.76.

AST SpaceMobile (NASDAQ:ASTS) last announced its earnings results on Monday, November 10th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.27). The firm had revenue of $14.74 million for the quarter, compared to analysts’ expectations 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 business’s revenue was up 1236.4% compared to the same quarter last year. During the same quarter last year, the business earned ($1.10) earnings per share. On average, equities analysts forecast that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Institutional Trading of AST SpaceMobile

Several institutional investors have recently modified their holdings of the stock. REAP Financial Group LLC purchased a new position in AST SpaceMobile during the 3rd quarter worth approximately $25,000. Atlantic Union Bankshares Corp acquired a new stake in shares of AST SpaceMobile in the second quarter valued at approximately $28,000. Harvest Fund Management Co. Ltd purchased a new position in shares of AST SpaceMobile during the third quarter worth approximately $29,000. Geneos Wealth Management Inc. grew its position in shares of AST SpaceMobile by 225.0% during the third quarter. Geneos Wealth Management Inc. now owns 650 shares of the company’s stock worth $32,000 after acquiring an additional 450 shares during the last quarter. Finally, Binnacle Investments Inc acquired a new position in shares of AST SpaceMobile in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ASTS. William Blair initiated coverage on shares of AST SpaceMobile in a research note on Thursday, August 21st. They set a “market perform” rating on the stock. Zacks Research lowered AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of AST SpaceMobile in a report on Monday, December 8th. 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 note on Friday, October 17th. Finally, Scotiabank raised 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. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target 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.