AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) shares were down 5.2% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $90.65 and last traded at $90.74. Approximately 9,002,952 shares changed hands during trading, a decline of 40% from the average daily volume of 15,106,204 shares. The stock had previously closed at $95.70.
Specifically, President Scott Wisniewski sold 47,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $94.75, for a total transaction of $4,453,250.00. Following the completion of the transaction, the president directly owned 666,681 shares of the company’s stock, valued at approximately $63,168,024.75. This represents a 6.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Analysts Set New Price Targets
Several research firms have weighed in on ASTS. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of AST SpaceMobile in a research report on Tuesday, January 20th. Zacks Research raised AST SpaceMobile from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. B. Riley Financial lowered their target price on shares of AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. Scotiabank lowered shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 price target on the stock. in a research report on Wednesday, January 7th. Finally, UBS Group increased their price target on shares of AST SpaceMobile from $43.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, March 4th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, AST SpaceMobile currently has a consensus rating of “Reduce” and an average price target of $63.77.
AST SpaceMobile Stock Down 4.4%
The firm has a market cap of $33.01 billion, a P/E ratio of -68.13 and a beta of 2.77. The firm’s fifty day moving average is $96.44 and its 200 day moving average is $76.57. The company has a debt-to-equity ratio of 0.92, a quick ratio of 16.27 and a current ratio of 16.35.
AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last released its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.08). The company had revenue of $54.31 million during the quarter, compared to the consensus estimate of $39.53 million. AST SpaceMobile had a negative net margin of 482.16% and a negative return on equity of 23.02%. AST SpaceMobile’s quarterly revenue was up 2731.3% on a year-over-year basis. As a group, equities research analysts anticipate that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.
Hedge Funds Weigh In On AST SpaceMobile
Large investors have recently made changes to their positions in the company. REAP Financial Group LLC acquired a new stake in AST SpaceMobile during the 3rd quarter worth approximately $25,000. Crewe Advisors LLC acquired a new position in AST SpaceMobile in the 4th quarter valued at $25,000. Laurel Wealth Advisors LLC acquired a new position in AST SpaceMobile in the 4th quarter valued at $25,000. Byrne Asset Management LLC bought a new position in AST SpaceMobile during the 4th quarter worth $29,000. Finally, Acumen Wealth Advisors LLC acquired a new stake in shares of AST SpaceMobile during the fourth quarter worth $29,000. Institutional investors own 60.95% of the company’s stock.
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.
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