AST SpaceMobile (NASDAQ:ASTS) CTO Sells $3,854,800.00 in Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS) CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $96.37, for a total transaction of $3,854,800.00. Following the transaction, the chief technology officer directly owned 34,750 shares in the company, valued at approximately $3,348,857.50. This trade represents a 53.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Huiwen Yao also recently made the following trade(s):

• On Monday, March 23rd, Huiwen Yao sold 40,000 shares of AST SpaceMobile stock. The shares were sold at an average price of $88.88, for a total transaction of $3,555,200.00.

AST SpaceMobile Trading Down 1.6%

ASTS stock traded down $1.54 during midday trading on Monday, reaching $92.06. 13,611,773 shares of the company’s stock traded hands, compared to its average volume of 17,706,932. The company has a market capitalization of $35.73 billion, a P/E ratio of -51.72 and a beta of 2.70. The company has a debt-to-equity ratio of 1.11, a current ratio of 18.47 and a quick ratio of 18.37. AST SpaceMobile, Inc. has a fifty-two week low of $32.25 and a fifty-two week high of $133.86. The business has a 50-day moving average price of $89.60 and a two-hundred day moving average price of $86.92.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.43). The business had revenue of $14.74 million for the quarter, compared to analyst estimates of $39.01 million. AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The company’s quarterly revenue was up 1952.2% on a year-over-year basis. During the same period last year, the firm earned ($0.20) earnings per share. Equities research analysts forecast that AST SpaceMobile, Inc. will post -1.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Roth Mkm reaffirmed a “buy” rating and set a $108.00 price target on shares of AST SpaceMobile in a research report on Tuesday, May 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Friday, March 27th. Deutsche Bank Aktiengesellschaft cut shares of AST SpaceMobile from a “buy” rating to a “hold” rating and reduced their target price for the stock from $117.00 to $106.00 in a research report on Friday, May 29th. Barclays upped their target price on shares of AST SpaceMobile from $60.00 to $65.00 and gave the company an “underweight” rating in a research note on Thursday, April 9th. Finally, New Street Research set a $106.00 price target on shares of AST SpaceMobile in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $81.33.

Institutional Investors Weigh In On AST SpaceMobile

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Calton & Associates Inc. boosted its stake in shares of AST SpaceMobile by 0.8% during the 4th quarter. Calton & Associates Inc. now owns 13,579 shares of the company’s stock valued at $986,000 after buying an additional 104 shares during the last quarter. Investmark Advisory Group LLC increased its stake in shares of AST SpaceMobile by 2.7% in the fourth quarter. Investmark Advisory Group LLC now owns 4,645 shares of the company’s stock worth $337,000 after buying an additional 120 shares during the last quarter. ORG Partners LLC increased its stake in shares of AST SpaceMobile by 4.2% in the fourth quarter. ORG Partners LLC now owns 3,283 shares of the company’s stock worth $238,000 after buying an additional 133 shares during the last quarter. Atlantic Union Bankshares Corp increased its stake in shares of AST SpaceMobile by 18.2% in the fourth quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company’s stock worth $67,000 after buying an additional 142 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of AST SpaceMobile by 39.0% in the fourth quarter. Larson Financial Group LLC now owns 513 shares of the company’s stock worth $37,000 after buying an additional 144 shares during the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

About AST SpaceMobile

AST SpaceMobile is a U.S.-based aerospace company developing a space-based cellular broadband network designed to connect standard mobile phones and other devices directly to satellites. The company’s core proposition is “space-to-cell” service: operating a constellation of low-Earth-orbit (LEO) satellites equipped with large, high-power phased-array antennas to provide wide-area mobile broadband without requiring users to buy specialized terminals or handset modifications.

AST SpaceMobile designs, builds and operates satellite payloads and supporting ground infrastructure.