AST SpaceMobile (NASDAQ:ASTS) Shares Down 15.5% After Insider Selling

AST SpaceMobile, Inc. (NASDAQ:ASTS) was down 15.5% during mid-day trading on Friday following insider selling activity. The company traded as low as $81.50 and last traded at $82.41. Approximately 54,584,193 shares traded hands during trading, an increase of 201% from the average daily volume of 18,132,814 shares. The stock had previously closed at $97.56.

Specifically, CFO Andrew Martin Johnson sold 45,809 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $93.81, for a total transaction of $4,297,342.29. Following the transaction, the chief financial officer directly owned 503,619 shares in the company, valued at $47,244,498.39. This represents a 8.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $96.37, for a total transaction of $3,854,800.00. Following the transaction, the chief technology officer owned 34,750 shares in the company, valued at approximately $3,348,857.50. The trade was a 53.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

Several research analysts have issued reports on ASTS shares. New Street Research set a $106.00 target price on shares of AST SpaceMobile in a report on Friday, May 29th. B. Riley Financial increased their target price on shares of AST SpaceMobile from $75.00 to $85.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. William Blair reiterated a “market perform” rating on shares of AST SpaceMobile in a report on Friday, May 29th. Wall Street Zen cut shares of AST SpaceMobile from a “sell” rating to a “strong sell” rating in a report on Wednesday, April 15th. Finally, UBS Group lowered their price target on shares of AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $81.33.

AST SpaceMobile News Roundup

Here are the key news stories impacting AST SpaceMobile this week:

• Positive Sentiment: Some commentary remains constructive on AST SpaceMobile’s long-term potential, highlighting its direct-to-smartphone satellite connectivity model, nearly 60 mobile network operator partners, and a large deployment pipeline that could support a move toward $150 by 2027. Prediction: Can AST SpaceMobile Soar to $150 by 2027?
• Positive Sentiment: Earlier in the week, ASTS also benefited from bullish sector momentum after BlueBird launch timing was confirmed for June 17, reinforcing the view that near-term catalysts still exist despite Friday’s pullback. AST SpaceMobile Stock Climbs Ahead of SpaceX IPO As BlueBird Launch Date Confirmed for June 17
• Neutral Sentiment: Analysts and market commentary are framing the move as largely sentiment-driven rather than based on fresh company-specific operating news, with SpaceX IPO excitement lifting and then pressuring comparable space stocks throughout the session. SpaceX, Tesla, EchoStar, and More Stocks That Explain Today’s Market
• Negative Sentiment: AST SpaceMobile shares are being hit in a broad space-sector reset, with one report describing the stock as down sharply alongside Virgin Galactic and Rocket Lab as investors reassess valuations after the SpaceX debut. Virgin Galactic Craters 24%, Rocket Lab Drops 8%, AST SpaceMobile Falls 10% as SpaceX Hype Triggers a Space-Stock Shakeout
• Negative Sentiment: Short-seller criticism of space stocks is adding pressure to ASTS by reinforcing concerns that many of the sector’s growth expectations are too speculative in the wake of SpaceX’s public trading debut. Space Stocks Get Torched: Short Seller Calls Them ‘Sci-Fi Wishes’

AST SpaceMobile Stock Down 15.5%

The firm has a market capitalization of $31.98 billion, a P/E ratio of -46.30 and a beta of 2.70. The company has a debt-to-equity ratio of 1.11, a quick ratio of 18.37 and a current ratio of 18.47. The business’s fifty day moving average price is $90.42 and its two-hundred day moving average price is $87.92.

AST SpaceMobile (NASDAQ:ASTS) last released 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). AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The firm had revenue of $14.74 million during the quarter, compared to the consensus estimate of $39.01 million. During the same quarter in the prior year, the business posted ($0.20) earnings per share. The firm’s quarterly revenue was up 1952.2% on a year-over-year basis. Equities analysts expect that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current fiscal year.

Institutional Trading of AST SpaceMobile

A number of institutional investors have recently modified their holdings of ASTS. Cornerstone Planning Group LLC boosted its stake in AST SpaceMobile by 16,350.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 329 shares of the company’s stock worth $27,000 after purchasing an additional 327 shares in the last quarter. Crewe Advisors LLC acquired a new position in AST SpaceMobile during the 4th quarter valued at approximately $25,000. Laurel Wealth Advisors LLC acquired a new position in AST SpaceMobile during the 4th quarter valued at approximately $25,000. Portus Wealth Advisors LLC acquired a new position in AST SpaceMobile during the 1st quarter valued at approximately $30,000. Finally, Advocate Investing Services LLC acquired a new position in AST SpaceMobile during the 1st quarter valued at approximately $31,000. 60.95% of the stock is currently owned by institutional investors.

AST SpaceMobile Company Profile

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.