AST SpaceMobile, Inc. (NASDAQ:ASTS) COO Shanti B. Gupta Sells 15,000 Shares

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) COO Shanti B. Gupta sold 15,000 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $36.08, for a total transaction of $541,200.00. Following the completion of the sale, the chief operating officer now owns 315,667 shares in the company, valued at $11,389,265.36. This represents a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

AST SpaceMobile Price Performance

Shares of ASTS traded up $0.76 during mid-day trading on Wednesday, reaching $36.47. 12,869,958 shares of the stock traded hands, compared to its average volume of 12,328,592. The company has a market cap of $11.54 billion, a price-to-earnings ratio of -17.20 and a beta of 2.02. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The firm has a fifty day moving average price of $24.74 and a 200 day moving average price of $24.78. AST SpaceMobile, Inc. has a 1 year low of $9.32 and a 1 year high of $39.08.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The firm had revenue of $0.72 million during the quarter, compared to analysts' expectations of $3.85 million. As a group, equities research analysts predict that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on ASTS shares. Oppenheimer initiated coverage on AST SpaceMobile in a research report on Monday, May 5th. They set a "market perform" rating for the company. Scotiabank cut their price target on AST SpaceMobile from $47.90 to $45.40 and set a "sector outperform" rating for the company in a research note on Tuesday, May 13th. Roth Capital assumed coverage on AST SpaceMobile in a research note on Thursday, April 10th. They set a "buy" rating and a $42.00 price objective on the stock. UBS Group upped their price target on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $30.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, March 4th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.40.

Hedge Funds Weigh In On AST SpaceMobile

Several hedge funds have recently made changes to their positions in the business. Sunbelt Securities Inc. increased its holdings in shares of 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 lifted its holdings in shares of AST SpaceMobile by 388.7% during the 1st quarter. GAMMA Investing LLC now owns 1,559 shares of the company's stock valued at $35,000 after purchasing an additional 1,240 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of AST SpaceMobile in the fourth quarter worth about $37,000. Financial Gravity Asset Management Inc. purchased a new position in shares of AST SpaceMobile during the 1st quarter valued at approximately $41,000. Finally, Close Asset Management Ltd grew its position in shares of AST SpaceMobile by 72.4% in the first quarter. Close Asset Management Ltd now owns 1,810 shares of the company's stock valued at $41,000 after purchasing an additional 760 shares during the period. 60.95% of the stock is owned by hedge funds and other institutional investors.

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.