AST SpaceMobile (NASDAQ:ASTS) Director Julio Torres Sells 15,000 Shares of Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS) Director Julio Torres sold 15,000 shares of AST SpaceMobile stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $76.34, for a total transaction of $1,145,100.00. Following the transaction, the director owned 43,239 shares in the company, valued at approximately $3,300,865.26. This trade represents a 25.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

AST SpaceMobile Price Performance

Shares of NASDAQ:ASTS opened at $83.01 on Friday. The firm has a market cap of $31.71 billion, a PE ratio of -46.63 and a beta of 2.60. The firm’s fifty day moving average is $85.08 and its 200-day moving average is $82.95. The company has a debt-to-equity ratio of 1.11, a quick ratio of 16.27 and a current ratio of 18.47. AST SpaceMobile, Inc. has a 52 week low of $22.47 and a 52 week high of $129.89.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.66) EPS 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 return on equity of 24.87% and a negative net margin of 573.67%.AST SpaceMobile’s revenue for the quarter was up 1952.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.20) EPS. Sell-side analysts predict that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current year.

Hedge Funds Weigh In On AST SpaceMobile

Hedge funds have recently bought and sold shares of the company. REAP Financial Group LLC bought a new position in AST SpaceMobile during the third quarter worth $25,000. Crewe Advisors LLC bought a new position in AST SpaceMobile during the fourth quarter worth $25,000. Laurel Wealth Advisors LLC bought a new position in AST SpaceMobile during the fourth quarter worth $25,000. Cornerstone Planning Group LLC increased its stake in AST SpaceMobile by 16,350.0% in the first quarter. Cornerstone Planning Group LLC now owns 329 shares of the company’s stock valued at $27,000 after purchasing an additional 327 shares in the last quarter. Finally, Byrne Asset Management LLC bought a new stake in AST SpaceMobile in the fourth quarter valued at $29,000. Institutional investors own 60.95% of the company’s stock.

Key Stories Impacting AST SpaceMobile

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

• Positive Sentiment: AST SpaceMobile welcomed the announcement that AT&T, T-Mobile and Verizon are forming a satellite-to-phone joint venture to improve coverage in dead zones. Investors see this as validation of ASTS’s direct-to-device satellite connectivity market and a potential boost to future demand. Article Title
• Positive Sentiment: New Street Research launched coverage of the space economy and included AST SpaceMobile among the stocks it is tracking, which can draw more investor attention to the name and support trading interest. Article Title
• Neutral Sentiment: Analysts’ views remain mixed, but one new report says consensus has turned to “Reduce,” reflecting caution after ASTS’s recent earnings miss and ongoing execution concerns. Article Title
• Negative Sentiment: Director Julio A. Torres sold 15,000 shares at $76.34, a move that may be viewed as insider selling and could weigh on sentiment despite the remaining stake. Article Title
• Negative Sentiment: Post-earnings commentary continues to highlight a Q1 miss, darker consensus forecasts, and execution/competition risks, which reinforces concerns about AST SpaceMobile’s near-term fundamentals. Article Title

Wall Street Analyst Weigh In

ASTS has been the topic of a number of recent research reports. UBS Group cut 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. Roth Mkm reissued a “buy” rating and set a $108.00 target price on shares of AST SpaceMobile in a research note on Tuesday. Deutsche Bank Aktiengesellschaft set a $117.00 target price on shares of AST SpaceMobile in a research note on Wednesday, April 15th. New Street Research initiated coverage on shares of AST SpaceMobile in a research note on Wednesday. They set a “neutral” rating and a $80.00 target price for the company. Finally, Barclays lifted their target price on shares of AST SpaceMobile from $60.00 to $65.00 and gave the stock an “underweight” rating in a research note on Thursday, April 9th. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus price target of $79.45.

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.