AST SpaceMobile (NASDAQ:ASTS) President Scott Wisniewski Sells 47,000 Shares

Key Points

• Insider sale: President Scott Wisniewski sold 47,000 shares on March 17 at an average price of $94.75 for proceeds of $4,453,250, trimming his stake by 6.59% to 666,681 shares (valued at ~$63.17M).
• Mixed quarterly results: AST reported revenue of $54.31M (up 2,731% YoY) beating estimates, but missed on EPS at ($0.26) vs. ($0.18) expected and recorded a deeply negative net margin (~482%) and negative ROE.
• Market and analyst stance: The stock fell ~5.2% to $90.74 (market cap ~$33.3B), and analysts hold a consensus rating of "Reduce" with a $63.77 price target amid a wide range of opinions (2 Buy, 6 Hold, 3 Sell).

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) President Scott Wisniewski sold 47,000 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $94.75, for a total value of $4,453,250.00. Following the transaction, the president directly owned 666,681 shares in the company, valued at $63,168,024.75. The trade was a 6.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

AST SpaceMobile Stock Down 5.2%

NASDAQ ASTS traded down $4.96 during trading on Wednesday, reaching $90.74. 9,071,395 shares of the company's stock were exchanged, compared to its average volume of 12,432,478. The company has a current ratio of 16.35, a quick ratio of 16.27 and a debt-to-equity ratio of 0.92. AST SpaceMobile, Inc. has a fifty-two week low of $18.22 and a fifty-two week high of $129.89. The company's fifty day simple moving average is $96.37 and its 200-day simple moving average is $76.45. The firm has a market capitalization of $33.30 billion, a PE ratio of -68.74 and a beta of 2.77.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.08). The business had revenue of $54.31 million during the quarter, compared to analyst estimates of $39.53 million. AST SpaceMobile had a negative net margin of 482.16% and a negative return on equity of 23.02%. The company's revenue for the quarter was up 2731.3% on a year-over-year basis. Sell-side analysts predict that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its position in AST SpaceMobile by 11.8% during the first quarter. AQR Capital Management LLC now owns 34,548 shares of the company's stock worth $786,000 after purchasing an additional 3,642 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of AST SpaceMobile by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,764 shares of the company's stock valued at $1,814,000 after purchasing an additional 3,515 shares during the period. Millennium Management LLC lifted its stake in shares of AST SpaceMobile by 16.1% in the first quarter. Millennium Management LLC now owns 467,626 shares of the company's stock worth $10,634,000 after buying an additional 64,989 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of AST SpaceMobile by 18.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 325,621 shares of the company's stock worth $7,405,000 after buying an additional 49,811 shares during the period. Finally, Strs Ohio bought a new stake in shares of AST SpaceMobile during the 1st quarter worth $168,000. 60.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ASTS has been the subject of a number of research reports. Scotiabank lowered shares of AST SpaceMobile from a "sector perform" rating to a "sector underperform" rating and set a $45.60 target price for the company. in a research note on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of AST SpaceMobile in a research report on Tuesday, January 20th. Zacks Research raised AST SpaceMobile from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 4th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AST SpaceMobile in a research note on Monday, December 29th. Finally, UBS Group lifted their price target on AST SpaceMobile from $43.00 to $85.00 and gave the company a "neutral" rating in a report on Wednesday, March 4th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $63.77.

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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