Keith Larson Purchases 675 Shares of AST SpaceMobile (NASDAQ:ASTS) Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS) Director Keith Larson purchased 675 shares of the firm’s stock in a transaction on Wednesday, December 10th. The stock was bought at an average price of $72.71 per share, with a total value of $49,079.25. Following the acquisition, the director owned 675 shares in the company, valued at $49,079.25. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

AST SpaceMobile Stock Up 8.5%

NASDAQ:ASTS traded up $6.21 during trading hours on Wednesday, hitting $79.05. The stock had a trading volume of 14,482,776 shares, compared to its average volume of 12,050,030. The company has a market cap of $29.01 billion, a PE ratio of -63.75 and a beta of 2.76. The business has a 50 day simple moving average of $70.04 and a two-hundred day simple moving average of $53.81. AST SpaceMobile, Inc. has a 1-year low of $17.50 and a 1-year 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.

AST SpaceMobile (NASDAQ:ASTS) last announced 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). AST SpaceMobile had a negative net margin of 1,639.59% and a negative return on equity of 27.76%. The firm had revenue of $14.74 million during the quarter, compared to analysts’ expectations of $22.04 million. During the same quarter last year, the company posted ($1.10) earnings per share. AST SpaceMobile’s revenue for the quarter was up 1236.4% compared to the same quarter last year. Analysts predict that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Institutional Trading of AST SpaceMobile

Several institutional investors have recently added to or reduced their stakes in the business. REAP Financial Group LLC bought a new position in shares of AST SpaceMobile in the 3rd quarter worth about $25,000. Harvest Fund Management Co. Ltd bought a new stake in shares of AST SpaceMobile during the 3rd quarter valued at about $29,000. Atlantic Union Bankshares Corp acquired a new stake in AST SpaceMobile during the second quarter worth about $28,000. Geneos Wealth Management Inc. lifted its holdings in AST SpaceMobile by 225.0% in 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 bought a new position in AST SpaceMobile in the second quarter worth about $33,000. Institutional investors own 60.95% of the company’s stock.

Wall Street Analyst Weigh In

ASTS has been the topic of a number of analyst reports. Scotiabank raised AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $45.60 target price on the stock in a research report on Monday, November 24th. Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a report on Monday. 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. Zacks Research downgraded shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Finally, UBS Group downgraded shares of AST SpaceMobile from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $62.00 to $43.00 in a research report on Tuesday, September 9th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, AST SpaceMobile presently has an average rating of “Hold” and a consensus price target of $45.66.

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.