Insider Selling: AST SpaceMobile, Inc. (NASDAQ:ASTS) COO Sells $2,066,400.00 in Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS) COO Shanti B. Gupta sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the completion of the sale, the chief operating officer now owns 393,232 shares in the company, valued at approximately $10,157,182.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

AST SpaceMobile Stock Down 1.1 %

Shares of NASDAQ ASTS opened at $23.84 on Thursday. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38. The firm has a 50-day simple moving average of $26.16 and a two-hundred day simple moving average of $13.33. AST SpaceMobile, Inc. has a 1 year low of $1.97 and a 1 year high of $39.08. The company has a market cap of $6.14 billion, a P/E ratio of -24.33 and a beta of 1.63.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.05. The company had revenue of $0.90 million during the quarter, compared to analysts’ expectations of $2.00 million. Research analysts anticipate that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on ASTS. Deutsche Bank Aktiengesellschaft raised their target price on AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Scotiabank raised their price objective on shares of AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. UBS Group lifted their price objective on shares of AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, B. Riley boosted their price target 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.

Institutional Investors Weigh In On AST SpaceMobile

Hedge funds have recently made changes to their positions in the company. BNP Paribas bought a new stake in shares of AST SpaceMobile in the 1st quarter valued at about $43,000. Principal Financial Group Inc. acquired a new position in shares of AST SpaceMobile in the 1st quarter valued at $45,000. Cantor Fitzgerald L. P. acquired a new position in shares of AST SpaceMobile in the fourth quarter worth about $66,000. Rathbones Group PLC acquired a new position in AST SpaceMobile in the 4th quarter worth about $76,000. Finally, Black Maple Capital Management LP purchased a new position in shares of AST SpaceMobile during the 1st quarter valued at approximately $87,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

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.