Keith Larson Buys 715 Shares of AST SpaceMobile (NASDAQ:ASTS) Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS) Director Keith Larson bought 715 shares of the firm’s stock in a transaction on Wednesday, December 17th. The shares were bought at an average price of $70.02 per share, with a total value of $50,064.30. Following the completion of the purchase, the director owned 1,390 shares in the company, valued at approximately $97,327.80. The trade was a 105.93% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

AST SpaceMobile Stock Performance

Shares of NASDAQ ASTS traded down $6.51 during midday trading on Wednesday, hitting $61.86. 12,530,315 shares of the company’s stock traded hands, compared to its average volume of 11,686,450. The firm has a fifty day moving average of $70.80 and a 200 day moving average of $55.61. AST SpaceMobile, Inc. has a 1 year low of $17.50 and a 1 year high of $102.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 9.56 and a quick ratio of 9.48.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.27). AST SpaceMobile had a negative return on equity of 27.76% and a negative net margin of 1,639.59%.The business had revenue of $14.74 million for the quarter, compared to analysts’ expectations of $22.04 million. During the same quarter in the prior year, the business earned ($1.10) EPS. The company’s revenue was up 1236.4% compared to the same quarter last year. Research analysts forecast that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of AST SpaceMobile

Several hedge funds have recently made changes to their positions in ASTS. Swiss Life Asset Management Ltd grew its position in AST SpaceMobile by 82.6% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 8,993 shares of the company’s stock valued at $441,000 after acquiring an additional 4,069 shares during the last quarter. Greenhaven Road Investment Management L.P. grew its stake in AST SpaceMobile by 22.8% in the third quarter. Greenhaven Road Investment Management L.P. now owns 329,111 shares of the company’s stock worth $16,153,000 after purchasing an additional 61,111 shares in the last quarter. Cantor Fitzgerald L. P. increased its stake in shares of AST SpaceMobile by 138.0% during the third quarter. Cantor Fitzgerald L. P. now owns 32,882 shares of the company’s stock valued at $1,614,000 after buying an additional 19,065 shares during the period. CIBC Private Wealth Group LLC increased its position in AST SpaceMobile by 34.5% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,755 shares of the company’s stock valued at $86,000 after purchasing an additional 450 shares during the period. Finally, Centaurus Financial Inc. increased its position in AST SpaceMobile by 46.4% during the 3rd quarter. Centaurus Financial Inc. now owns 4,438 shares of the company’s stock valued at $218,000 after purchasing an additional 1,407 shares during the period. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Monday. William Blair initiated coverage on AST SpaceMobile in a research note on Thursday, August 21st. They issued a “market perform” rating for the company. Zacks Research downgraded AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. UBS Group downgraded AST SpaceMobile from a “buy” rating to a “neutral” rating and decreased their target price for the company from $62.00 to $43.00 in a research note on Tuesday, September 9th. Finally, Barclays lowered shares of AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 price objective for the company. in a report on Friday, October 17th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $45.66.

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.