AST SpaceMobile, Inc. (NASDAQ:ASTS) Director Sells $614,600.00 in Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS) Director Julio A. Torres sold 20,000 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $30.73, for a total transaction of $614,600.00. Following the completion of the transaction, the director now directly owns 52,628 shares of the company’s stock, valued at approximately $1,617,258.44. The trade was a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

AST SpaceMobile Trading Down 1.6 %

AST SpaceMobile stock opened at $28.66 on Wednesday. The firm’s fifty day moving average price is $25.23 and its 200-day moving average price is $25.34. AST SpaceMobile, Inc. has a fifty-two week low of $1.97 and a fifty-two week high of $39.08. The stock has a market cap of $9.07 billion, a P/E ratio of -13.52 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of AST SpaceMobile by 49.4% during the 4th quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company’s stock valued at $316,233,000 after buying an additional 4,955,941 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in AST SpaceMobile in the 4th quarter worth about $59,523,000. Charles Schwab Investment Management Inc. raised its position in AST SpaceMobile by 228.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock worth $29,594,000 after purchasing an additional 787,566 shares during the period. State Street Corp grew its stake in AST SpaceMobile by 14.8% in the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company’s stock worth $80,845,000 after acquiring an additional 399,713 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of AST SpaceMobile by 9.4% during the third quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company’s stock valued at $85,450,000 after purchasing an additional 281,749 shares in the last quarter. Institutional investors own 60.95% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ASTS. UBS Group raised their price target on AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Scotiabank restated an “outperform” rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $30.00 price objective on shares of AST SpaceMobile in a report on Tuesday, March 4th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $42.98.

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.