AST SpaceMobile (NASDAQ:ASTS) CAO Maya Bernal Sells 6,000 Shares of Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS) CAO Maya Bernal sold 6,000 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $73.76, for a total transaction of $442,560.00. Following the completion of the sale, the chief accounting officer owned 122,486 shares of the company’s stock, valued at approximately $9,034,567.36. This represents a 4.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

AST SpaceMobile Price Performance

NASDAQ ASTS opened at $74.00 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 9.48 and a current ratio of 9.56. The firm’s 50 day moving average price is $69.56 and its 200-day moving average price is $53.47. AST SpaceMobile, Inc. has a 52-week low of $17.50 and a 52-week high of $102.79. The company has a market cap of $27.16 billion, a PE ratio of -59.68 and a beta of 2.77.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ASTS shares. Zacks Research cut AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. UBS Group lowered shares of AST SpaceMobile from a “buy” rating to a “neutral” rating and decreased their price target for the company from $62.00 to $43.00 in a research report on Tuesday, September 9th. Barclays cut shares of AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 price target on the stock. in a report on Friday, October 17th. William Blair assumed coverage on shares of AST SpaceMobile in a research note on Thursday, August 21st. They set a “market perform” rating for the company. Finally, Roth Capital restated a “buy” rating on shares of AST SpaceMobile in a research note on Tuesday, August 12th. 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $45.66.

Hedge Funds Weigh In On AST SpaceMobile

Several hedge funds have recently modified their holdings of the stock. Rakuten Group Inc. acquired a new stake in AST SpaceMobile in the 1st quarter worth approximately $705,398,000. Vanguard Group Inc. increased its stake in AST SpaceMobile by 13.4% during the 3rd quarter. Vanguard Group Inc. now owns 19,919,888 shares of the company’s stock valued at $977,668,000 after purchasing an additional 2,351,539 shares in the last quarter. Clear Street Group Inc. purchased a new position in shares of AST SpaceMobile in the third quarter worth $90,129,000. Voya Investment Management LLC lifted its stake in shares of AST SpaceMobile by 1,992.5% during the first quarter. Voya Investment Management LLC now owns 843,554 shares of the company’s stock worth $19,182,000 after buying an additional 803,240 shares during the period. Finally, Jump Financial LLC acquired a new stake in shares of AST SpaceMobile during the first quarter worth $14,750,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

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.