AST SpaceMobile, Inc. (NASDAQ:ASTS) CTO Sells $1,091,700.00 in Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS) CTO Huiwen Yao sold 45,000 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the transaction, the chief technology officer now directly owns 55,000 shares of the company’s stock, valued at approximately $1,334,300. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

AST SpaceMobile Stock Performance

Shares of ASTS opened at $23.07 on Friday. The firm has a market capitalization of $5.94 billion, a PE ratio of -23.54 and a beta of 1.62. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83. The firm has a 50-day moving average price of $26.78 and a 200 day moving average price of $14.14. AST SpaceMobile, Inc. has a 52-week low of $1.97 and a 52-week high of $39.08.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.05. The company had revenue of $0.90 million during the quarter, compared to the consensus estimate of $2.00 million. On average, sell-side analysts anticipate that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AST SpaceMobile

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASTS. Key Colony Management LLC bought a new stake in shares of AST SpaceMobile in the 3rd quarter worth $3,556,000. Sanders Morris Harris LLC grew its holdings in AST SpaceMobile by 39.6% during the third quarter. Sanders Morris Harris LLC now owns 25,387 shares of the company’s stock worth $664,000 after acquiring an additional 7,200 shares during the period. Future Financial Wealth Managment LLC bought a new stake in AST SpaceMobile in the third quarter worth about $105,000. Brookstone Capital Management acquired a new stake in AST SpaceMobile in the 3rd quarter valued at about $255,000. Finally, Dynamic Advisor Solutions LLC grew its stake in shares of AST SpaceMobile by 263.7% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 55,580 shares of the company’s stock worth $1,453,000 after purchasing an additional 40,300 shares during the last quarter. 60.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ASTS shares. UBS Group lifted their price objective on shares of AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. B. Riley lifted their price target on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft increased their price objective on AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Scotiabank raised their target price on AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a research report on Monday, August 26th.

About AST SpaceMobile

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.