Insider Selling: AST SpaceMobile, Inc. (NASDAQ:ASTS) COO Sells 10,000 Shares of Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) COO Shanti B. Gupta sold 10,000 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $41.84, for a total value of $418,400.00. Following the transaction, the chief operating officer now owns 305,667 shares of the company's stock, valued at $12,789,107.28. The trade was a 3.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

AST SpaceMobile Stock Performance

Shares of ASTS stock traded down $1.81 during trading hours on Tuesday, reaching $40.10. 12,728,151 shares of the company traded hands, compared to its average volume of 12,382,122. The firm has a 50-day moving average price of $26.49 and a 200 day moving average price of $25.31. The company has a debt-to-equity ratio of 0.60, a current ratio of 10.62 and a quick ratio of 10.62. AST SpaceMobile, Inc. has a 12-month low of $9.32 and a 12-month high of $42.93. The company has a market cap of $12.69 billion, a P/E ratio of -20.15 and a beta of 2.02.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.03). AST SpaceMobile had a negative return on equity of 23.56% and a negative net margin of 7,033.22%. The business had revenue of $0.72 million during the quarter, compared to analysts' expectations of $3.85 million. As a group, sell-side analysts predict that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. lifted its holdings in AST SpaceMobile by 61.9% in the 1st quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company's stock worth $30,000 after purchasing an additional 505 shares in the last quarter. GAMMA Investing LLC grew its position in AST SpaceMobile by 388.7% in the 1st quarter. GAMMA Investing LLC now owns 1,559 shares of the company's stock valued at $35,000 after acquiring an additional 1,240 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of AST SpaceMobile in the 4th quarter worth $37,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of AST SpaceMobile during the 1st quarter worth $41,000. Finally, Close Asset Management Ltd lifted its stake in shares of AST SpaceMobile by 72.4% during the 1st quarter. Close Asset Management Ltd now owns 1,810 shares of the company's stock worth $41,000 after purchasing an additional 760 shares during the last quarter. 60.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. UBS Group lifted their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Scotiabank reduced their price objective on AST SpaceMobile from $47.90 to $45.40 and set a "sector outperform" rating for the company in a report on Tuesday, May 13th. Oppenheimer assumed coverage on AST SpaceMobile in a report on Monday, May 5th. They issued a "market perform" rating for the company. Roth Capital initiated coverage on AST SpaceMobile in a report on Thursday, April 10th. They issued a "buy" rating and a $42.00 price objective for the company. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 target price on shares of AST SpaceMobile in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $43.73.

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.