AST SpaceMobile (NASDAQ:ASTS) CTO Sells $3,854,800.00 in Stock

Key Points

• AST SpaceMobile CTO Huiwen Yao sold 40,000 shares on June 5 for about $3.85 million at an average price of $96.37, cutting their direct ownership by more than half. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• ASTS shares fell 1.6% in Monday trading to $92.06, with volume below its average. The stock remains highly volatile, with a 52-week range of $32.25 to $133.86.
• The company recently reported a larger-than-expected quarterly loss and revenue that missed analyst estimates, though revenue rose sharply year over year. Wall Street sentiment is mixed, with an overall “Reduce” rating and an average price target of $81.33.

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $96.37, for a total transaction of $3,854,800.00. Following the transaction, the chief technology officer directly owned 34,750 shares in the company, valued at approximately $3,348,857.50. This trade represents a 53.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Huiwen Yao also recently made the following trade(s):

• On Monday, March 23rd, Huiwen Yao sold 40,000 shares of AST SpaceMobile stock. The shares were sold at an average price of $88.88, for a total transaction of $3,555,200.00.

AST SpaceMobile Trading Down 1.6%

ASTS stock traded down $1.54 during midday trading on Monday, reaching $92.06. 13,611,773 shares of the company's stock traded hands, compared to its average volume of 17,706,932. The company has a market capitalization of $35.73 billion, a P/E ratio of -51.72 and a beta of 2.70. The company has a debt-to-equity ratio of 1.11, a current ratio of 18.47 and a quick ratio of 18.37. AST SpaceMobile, Inc. has a fifty-two week low of $32.25 and a fifty-two week high of $133.86. The business has a 50-day moving average price of $89.60 and a two-hundred day moving average price of $86.92.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.66) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.43). The business had revenue of $14.74 million for the quarter, compared to analyst estimates of $39.01 million. AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The company's quarterly revenue was up 1952.2% on a year-over-year basis. During the same period last year, the firm earned ($0.20) earnings per share. Equities research analysts forecast that AST SpaceMobile, Inc. will post -1.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Roth Mkm reaffirmed a "buy" rating and set a $108.00 price target on shares of AST SpaceMobile in a research report on Tuesday, May 12th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AST SpaceMobile in a research report on Friday, March 27th. Deutsche Bank Aktiengesellschaft cut shares of AST SpaceMobile from a "buy" rating to a "hold" rating and reduced their target price for the stock from $117.00 to $106.00 in a research report on Friday, May 29th. Barclays upped their target price on shares of AST SpaceMobile from $60.00 to $65.00 and gave the company an "underweight" rating in a research note on Thursday, April 9th. Finally, New Street Research set a $106.00 price target on shares of AST SpaceMobile in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Reduce" and an average price target of $81.33.

Institutional Investors Weigh In On AST SpaceMobile

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Calton & Associates Inc. boosted its stake in shares of AST SpaceMobile by 0.8% during the 4th quarter. Calton & Associates Inc. now owns 13,579 shares of the company's stock valued at $986,000 after buying an additional 104 shares during the last quarter. Investmark Advisory Group LLC increased its stake in shares of AST SpaceMobile by 2.7% in the fourth quarter. Investmark Advisory Group LLC now owns 4,645 shares of the company's stock worth $337,000 after buying an additional 120 shares during the last quarter. ORG Partners LLC increased its stake in shares of AST SpaceMobile by 4.2% in the fourth quarter. ORG Partners LLC now owns 3,283 shares of the company's stock worth $238,000 after buying an additional 133 shares during the last quarter. Atlantic Union Bankshares Corp increased its stake in shares of AST SpaceMobile by 18.2% in the fourth quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company's stock worth $67,000 after buying an additional 142 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of AST SpaceMobile by 39.0% in the fourth quarter. Larson Financial Group LLC now owns 513 shares of the company's stock worth $37,000 after buying an additional 144 shares during the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

About AST SpaceMobile

AST SpaceMobile is a U.S.-based aerospace company developing a space-based cellular broadband network designed to connect standard mobile phones and other devices directly to satellites. The company's core proposition is “space-to-cell” service: operating a constellation of low-Earth-orbit (LEO) satellites equipped with large, high-power phased-array antennas to provide wide-area mobile broadband without requiring users to buy specialized terminals or handset modifications.

AST SpaceMobile designs, builds and operates satellite payloads and supporting ground infrastructure.

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