AST SpaceMobile, Inc. (NASDAQ:ASTS) Director Julio A. Torres Sells 20,000 Shares

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) Director Julio A. Torres sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $30.73, for a total transaction of $614,600.00. Following the sale, the director now owns 52,628 shares of the company's stock, valued at $1,617,258.44. This trade represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

AST SpaceMobile Price Performance

ASTS stock traded up $2.03 during mid-day trading on Friday, hitting $28.15. The stock had a trading volume of 8,375,317 shares, compared to its average volume of 11,919,553. The firm has a fifty day simple moving average of $25.53 and a 200 day simple moving average of $25.32. The firm has a market capitalization of $8.91 billion, a P/E ratio of -13.28 and a beta of 1.62. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile, Inc. has a 52 week low of $1.97 and a 52 week high of $39.08.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ASTS. Summit Securities Group LLC bought a new position in shares of AST SpaceMobile in the 4th quarter valued at $37,000. Bernard Wealth Management Corp. bought a new position in AST SpaceMobile in the fourth quarter valued at about $42,000. Golden State Wealth Management LLC acquired a new position in AST SpaceMobile during the fourth quarter worth about $46,000. CIBC Private Wealth Group LLC lifted its holdings in shares of AST SpaceMobile by 106.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock worth $53,000 after acquiring an additional 1,222 shares during the last quarter. Finally, Rakuten Securities Inc. bought a new position in shares of AST SpaceMobile in the third quarter worth about $68,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ASTS has been the subject of a number of recent research reports. Scotiabank reissued an "outperform" rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. UBS Group boosted their price objective on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $30.00 target price on shares of AST SpaceMobile in a report on Tuesday, March 4th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AST SpaceMobile currently has a consensus rating of "Buy" and a consensus target price of $42.98.

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.