AST SpaceMobile, Inc. (NASDAQ:ASTS) President Scott Wisniewski Sells 50,000 Shares

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) President Scott Wisniewski sold 50,000 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $35.65, for a total value of $1,782,500.00. Following the transaction, the president now directly owns 545,595 shares in the company, valued at $19,450,461.75. This represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Scott Wisniewski also recently made the following trade(s):

• On Monday, June 9th, Scott Wisniewski sold 50,000 shares of AST SpaceMobile stock. The stock was sold at an average price of $35.65, for a total transaction of $1,782,500.00.

AST SpaceMobile Stock Performance

ASTS traded up $0.45 during midday trading on Thursday, hitting $36.92. 9,834,729 shares of the company were exchanged, compared to its average volume of 12,318,803. The company's 50 day simple moving average is $25.07 and its 200 day simple moving average is $24.86. The firm has a market capitalization of $11.68 billion, a price-to-earnings ratio of -17.42 and a beta of 2.02. AST SpaceMobile, Inc. has a 1-year low of $9.32 and a 1-year high of $39.08. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last posted its 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 company had revenue of $0.72 million during the quarter, compared to analysts' expectations of $3.85 million. As a group, sell-side analysts predict that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Institutional Investors Weigh In On AST SpaceMobile

A number of hedge funds and other institutional investors have recently made changes to their positions in ASTS. Strs Ohio acquired a new position in shares of AST SpaceMobile in the 1st quarter valued at $168,000. Belpointe Asset Management LLC purchased a new position in AST SpaceMobile in the first quarter valued at $900,000. Intech Investment Management LLC raised its position in shares of AST SpaceMobile by 36.2% in the first quarter. Intech Investment Management LLC now owns 84,069 shares of the company's stock worth $1,912,000 after acquiring an additional 22,358 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake 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 acquiring an additional 49,811 shares in the last quarter. Finally, Optimize Financial Inc boosted its stake in shares of AST SpaceMobile by 15.9% during the 1st quarter. Optimize Financial Inc now owns 41,484 shares of the company's stock worth $943,000 after acquiring an additional 5,676 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company's stock.

Analysts Set New Price Targets

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

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.