AST SpaceMobile, Inc. (NASDAQ:ASTS) Director Adriana Cisneros Buys 4,934 Shares of Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS) Director Adriana Cisneros bought 4,934 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $26.32 per share, with a total value of $129,862.88. Following the completion of the purchase, the director now directly owns 774,772 shares in the company, valued at approximately $20,391,999.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

AST SpaceMobile Stock Up 0.7 %

NASDAQ ASTS opened at $26.11 on Wednesday. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.83. AST SpaceMobile, Inc. has a 1-year low of $1.97 and a 1-year high of $39.08. The company has a 50 day moving average of $21.68 and a 200-day moving average of $10.75. The company has a market cap of $6.72 billion, a price-to-earnings ratio of -26.64 and a beta of 1.63.

AST SpaceMobile (NASDAQ:ASTS) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. The business had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.00 million. On average, equities research analysts expect that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ASTS has been the subject of several recent analyst reports. UBS Group raised their target price on shares of AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Scotiabank raised their price objective on shares of AST SpaceMobile from $28.00 to $45.90 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th. B. Riley raised their price objective on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th.

Institutional Investors Weigh In On AST SpaceMobile

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas acquired a new stake in shares of AST SpaceMobile in the first quarter valued at approximately $43,000. Principal Financial Group Inc. bought a new position in AST SpaceMobile in the first quarter valued at approximately $45,000. Victory Capital Management Inc. bought a new position in AST SpaceMobile in the fourth quarter valued at approximately $65,000. Cantor Fitzgerald L. P. bought a new position in AST SpaceMobile in the fourth quarter valued at approximately $66,000. Finally, Rathbones Group PLC bought a new position in AST SpaceMobile in the fourth quarter valued at approximately $76,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.