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

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) Director Julio A. Torres sold 20,000 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $30.73, for a total transaction of $614,600.00. Following the completion of the sale, the director now owns 52,628 shares of the company's stock, valued at approximately $1,617,258.44. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

AST SpaceMobile Stock Performance

NASDAQ ASTS traded up $2.03 during midday trading on Friday, hitting $28.15. The company had a trading volume of 8,375,317 shares, compared to its average volume of 11,919,509. The firm has a fifty day simple moving average of $25.53 and a two-hundred day simple moving average of $25.32. The stock has a market cap of $8.91 billion, a price-to-earnings ratio of -13.28 and a beta of 1.62. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile, Inc. has a fifty-two week low of $1.97 and a fifty-two week high of $39.08.

Hedge Funds Weigh In On AST SpaceMobile

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of AST SpaceMobile by 49.4% in the 4th quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock worth $316,233,000 after acquiring an additional 4,955,941 shares during the period. Geode Capital Management LLC lifted its position in AST SpaceMobile by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 3,496,825 shares of the company's stock worth $73,801,000 after purchasing an additional 229,759 shares during the period. State Street Corp boosted its stake in AST SpaceMobile by 14.8% during the third quarter. State Street Corp now owns 3,091,577 shares of the company's stock worth $80,845,000 after buying an additional 399,713 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in AST SpaceMobile in the 4th quarter valued at $59,523,000. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of AST SpaceMobile by 11.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock valued at $26,728,000 after buying an additional 135,008 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ASTS shares. UBS Group upped their price target on AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Scotiabank reiterated an "outperform" rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $30.00 price target on shares of AST SpaceMobile in a report on Tuesday, March 4th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $42.98.

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.