AST SpaceMobile, Inc. (NASDAQ:ASTS) COO Shanti B. Gupta Sells 10,000 Shares

AST SpaceMobile, Inc. (NASDAQ:ASTS) COO Shanti B. Gupta sold 10,000 shares of the company’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $41.84, for a total value of $418,400.00. Following the completion of the transaction, the chief operating officer now directly owns 305,667 shares of the company’s stock, valued at approximately $12,789,107.28. This trade represents a 3.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

AST SpaceMobile Price Performance

NASDAQ:ASTS opened at $41.91 on Tuesday. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $13.26 billion, a P/E ratio of -19.77 and a beta of 2.02. AST SpaceMobile, Inc. has a 12 month low of $9.32 and a 12 month high of $42.93. The business’s 50-day moving average is $26.17 and its 200 day moving average is $25.20.

AST SpaceMobile (NASDAQ:ASTS) last posted its earnings results on Monday, May 12th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The company had revenue of $0.72 million during the quarter, compared to the consensus estimate of $3.85 million. On average, equities research analysts forecast that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AST SpaceMobile

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASTS. Rakuten Group Inc. purchased a new stake in AST SpaceMobile during the first quarter valued at approximately $705,398,000. Alphabet Inc. purchased a new stake in AST SpaceMobile during the first quarter valued at approximately $203,375,000. Vanguard Group Inc. raised its position in AST SpaceMobile by 49.4% during the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company’s stock valued at $316,233,000 after purchasing an additional 4,955,941 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in AST SpaceMobile during the fourth quarter valued at approximately $59,523,000. Finally, Jump Financial LLC purchased a new stake in AST SpaceMobile during the first quarter valued at approximately $14,750,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ASTS. B. Riley upped their price objective on AST SpaceMobile from $36.00 to $44.00 and gave the stock a “buy” rating in a research note on Monday. UBS Group boosted their target price on AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Scotiabank decreased their target price on AST SpaceMobile from $47.90 to $45.40 and set a “sector outperform” rating on the stock in a research report on Tuesday, May 13th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 target price on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Finally, Roth Capital started coverage on AST SpaceMobile in a research report on Thursday, April 10th. They issued a “buy” rating and a $42.00 target price on the stock. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $43.73.

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.