Insider Selling: AST SpaceMobile (NASDAQ:ASTS) President Sells 47,000 Shares of Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS) President Scott Wisniewski sold 47,000 shares of the business’s stock in a transaction 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

AST SpaceMobile Stock Performance

ASTS stock traded down $4.96 during mid-day trading on Wednesday, reaching $90.74. 9,071,395 shares of the stock traded hands, compared to its average volume of 12,432,478. The firm has a market capitalization of $33.30 billion, a PE ratio of -68.74 and a beta of 2.77. The business has a 50-day moving average of $96.37 and a two-hundred day moving average of $76.45. AST SpaceMobile, Inc. has a 52 week low of $18.22 and a 52 week high of $129.89. The company has a quick ratio of 16.27, a current ratio of 16.35 and a debt-to-equity ratio of 0.92.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings data on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.08). AST SpaceMobile had a negative return on equity of 23.02% and a negative net margin of 482.16%.The business had revenue of $54.31 million during the quarter, compared to the consensus estimate of $39.53 million. The company’s revenue was up 2731.3% compared to the same quarter last year. As a group, equities analysts predict that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Institutional Trading of AST SpaceMobile

Several institutional investors have recently made changes to their positions in ASTS. Vodafone Ventures Ltd bought a new stake in AST SpaceMobile during the 4th quarter worth approximately $397,413,000. Norges Bank bought a new position in AST SpaceMobile in the 4th quarter valued at $198,270,000. Vanguard Group Inc. boosted its stake in AST SpaceMobile by 13.4% in the third quarter. Vanguard Group Inc. now owns 19,919,888 shares of the company’s stock worth $977,668,000 after purchasing an additional 2,351,539 shares in the last quarter. Clear Street Group Inc. bought a new stake in shares of AST SpaceMobile during the third quarter worth $90,129,000. Finally, Morgan Stanley grew its holdings in shares of AST SpaceMobile by 44.0% during the fourth quarter. Morgan Stanley now owns 4,661,551 shares of the company’s stock worth $338,569,000 after purchasing an additional 1,425,199 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ASTS has been the subject of several research reports. UBS Group increased their price objective on AST SpaceMobile from $43.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, March 4th. B. Riley Financial cut their target price on shares of AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, February 13th. Zacks Research upgraded shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Scotiabank downgraded shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 price target for the company. in a report on Wednesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of AST SpaceMobile in a research report on Tuesday, January 20th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $63.77.

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.