Insider Selling: AST SpaceMobile (NASDAQ:ASTS) CFO Sells 20,000 Shares of Stock

Key Points

• AST SpaceMobile CFO Andrew Martin Johnson sold 20,000 shares of company stock for a total of $1,049,600, reducing his holdings by 4.79% to 397,485 shares.
• The company reported a significant earnings miss for the last quarter, with EPS at ($0.41) versus the consensus estimate of ($0.19) and revenues of only $1.16 million compared to expectations of $6.37 million.
• Despite recent challenges, analysts maintain a mixed outlook, with the stock receiving a consensus rating of "Moderate Buy" and a price target averaging around $48.41.

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) CFO Andrew Martin Johnson sold 20,000 shares of AST SpaceMobile stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $52.48, for a total value of $1,049,600.00. Following the completion of the transaction, the chief financial officer owned 397,485 shares in the company, valued at $20,860,012.80. The trade was a 4.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

AST SpaceMobile Trading Down 0.3%

AST SpaceMobile stock traded down $0.16 during midday trading on Friday, reaching $48.79. The stock had a trading volume of 3,056,597 shares, compared to its average volume of 11,686,432. AST SpaceMobile, Inc. has a twelve month low of $17.50 and a twelve month high of $60.95. The stock has a market capitalization of $17.49 billion, a PE ratio of -25.85 and a beta of 2.33. The company has a debt-to-equity ratio of 0.42, a quick ratio of 8.23 and a current ratio of 8.23. The stock's 50-day simple moving average is $49.87 and its 200 day simple moving average is $34.95.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.41) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.22). AST SpaceMobile had a negative net margin of 7,213.90% and a negative return on equity of 26.81%. The firm had revenue of $1.16 million during the quarter, compared to analyst estimates of $6.37 million. Analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Alphabet Inc. acquired a new position in shares of AST SpaceMobile in the first quarter worth about $203,375,000. Rakuten Group Inc. acquired a new position in shares of AST SpaceMobile in the first quarter worth about $705,398,000. Jump Financial LLC acquired a new position in shares of AST SpaceMobile in the first quarter worth about $14,750,000. Two Sigma Investments LP lifted its stake in shares of AST SpaceMobile by 117.5% in the fourth quarter. Two Sigma Investments LP now owns 51,874 shares of the company's stock worth $1,095,000 after acquiring an additional 28,025 shares in the last quarter. Finally, Toronto Dominion Bank acquired a new position in shares of AST SpaceMobile in the fourth quarter worth about $4,220,000. Institutional investors and hedge funds own 60.95% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Oppenheimer assumed coverage on AST SpaceMobile in a research note on Monday, May 5th. They set a "market perform" rating on the stock. Roth Capital restated a "buy" rating on shares of AST SpaceMobile in a research note on Tuesday, August 12th. Bank of America assumed coverage on AST SpaceMobile in a research note on Wednesday, June 25th. They set a "neutral" rating and a $55.00 price objective on the stock. B. Riley restated a "buy" rating and set a $44.00 price objective (up previously from $36.00) on shares of AST SpaceMobile in a research note on Monday, June 16th. Finally, William Blair assumed coverage on AST SpaceMobile in a research note on Thursday, August 21st. They set a "market perform" rating on the stock. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $48.41.

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.