AST SpaceMobile, Inc. (NASDAQ:ASTS) CTO Sells $147,050.00 in Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) CTO Huiwen Yao sold 4,250 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $34.60, for a total value of $147,050.00. Following the transaction, the chief technology officer now owns 20,750 shares of the company's stock, valued at approximately $717,950. The trade was a 17.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Friday, May 16th, Huiwen Yao sold 55,000 shares of AST SpaceMobile stock. The stock was sold at an average price of $26.82, for a total transaction of $1,475,100.00.

AST SpaceMobile Stock Up 2.1%

NASDAQ:ASTS traded up $0.76 during trading hours on Wednesday, reaching $36.47. The company's stock had a trading volume of 12,869,958 shares, compared to its average volume of 12,328,592. The stock has a 50 day moving average price of $24.74 and a two-hundred day moving average price of $24.78. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The company has a market capitalization of $11.54 billion, a P/E ratio of -17.20 and a beta of 2.02. AST SpaceMobile, Inc. has a 12 month low of $9.32 and a 12 month high of $39.08.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The firm had revenue of $0.72 million during the quarter, compared to analysts' expectations of $3.85 million. Equities analysts predict that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on ASTS shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Roth Capital started coverage on AST SpaceMobile in a report on Thursday, April 10th. They issued a "buy" rating and a $42.00 price target for the company. Oppenheimer started coverage on AST SpaceMobile in a report on Monday, May 5th. They set a "market perform" rating on the stock. Scotiabank lowered their target price on AST SpaceMobile from $47.90 to $45.40 and set a "sector outperform" rating for the company in a report on Tuesday, May 13th. Finally, UBS Group raised their price target on AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $42.40.

Hedge Funds Weigh In On AST SpaceMobile

A number of large investors have recently added to or reduced their stakes in ASTS. Strs Ohio bought a new stake in shares of AST SpaceMobile in the 1st quarter valued at about $168,000. Belpointe Asset Management LLC acquired a new stake in AST SpaceMobile in the first quarter valued at approximately $900,000. Intech Investment Management LLC boosted its stake in AST SpaceMobile by 36.2% in the first quarter. Intech Investment Management LLC now owns 84,069 shares of the company's stock valued at $1,912,000 after acquiring an additional 22,358 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in AST SpaceMobile by 18.1% in the first 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 purchasing an additional 49,811 shares during the last quarter. Finally, Optimize Financial Inc increased its position in shares of AST SpaceMobile by 15.9% during the first quarter. Optimize Financial Inc now owns 41,484 shares of the company's stock worth $943,000 after purchasing an additional 5,676 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors.

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.