AST SpaceMobile (NASDAQ:ASTS) Director Buys $50,064.30 in Stock

by · The Cerbat Gem

AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) Director Keith Larson purchased 715 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The shares were purchased at an average price of $70.02 per share, for a total transaction of $50,064.30. Following the transaction, the director owned 1,390 shares of the company’s stock, valued at $97,327.80. This trade represents a 105.93% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

AST SpaceMobile Trading Up 15.0%

Shares of AST SpaceMobile stock opened at $75.84 on Friday. The firm has a 50-day simple moving average of $69.87 and a two-hundred day simple moving average of $56.09. The company has a debt-to-equity ratio of 0.43, a quick ratio of 9.48 and a current ratio of 9.56. AST SpaceMobile, Inc. has a fifty-two week low of $17.50 and a fifty-two week high of $102.79. The company has a market cap of $27.83 billion, a P/E ratio of -61.16 and a beta of 2.76.

AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.27). The business had revenue of $14.74 million during the quarter, compared to analysts’ expectations of $22.04 million. AST SpaceMobile had a negative net margin of 1,639.59% and a negative return on equity of 27.76%. AST SpaceMobile’s revenue for the quarter was up 1236.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.10) EPS. As a group, equities analysts predict that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AST SpaceMobile

A number of hedge funds have recently modified their holdings of ASTS. Rakuten Group Inc. purchased a new stake in AST SpaceMobile during the 1st quarter valued at about $705,398,000. Vanguard Group Inc. boosted its holdings in shares of AST SpaceMobile by 13.4% during the 3rd quarter. Vanguard Group Inc. now owns 19,919,888 shares of the company’s stock worth $977,668,000 after purchasing an additional 2,351,539 shares during the last quarter. Clear Street Group Inc. purchased a new stake in shares of AST SpaceMobile in the third quarter valued at approximately $90,129,000. Northern Trust Corp increased its holdings in shares of AST SpaceMobile by 2.7% in the first quarter. Northern Trust Corp now owns 1,266,315 shares of the company’s stock valued at $28,796,000 after purchasing an additional 33,259 shares during the last quarter. Finally, Gotham Asset Management LLC lifted its position in AST SpaceMobile by 37.8% during the third quarter. Gotham Asset Management LLC now owns 843,738 shares of the company’s stock worth $41,411,000 after buying an additional 231,549 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Monday. Zacks Research downgraded shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. UBS Group lowered shares of AST SpaceMobile from a “buy” rating to a “neutral” rating and dropped their target price for the company from $62.00 to $43.00 in a research report on Tuesday, September 9th. Barclays downgraded shares of AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 price target for the company. in a research report on Friday, October 17th. Finally, Scotiabank upgraded AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $45.60 price objective on the stock in a report on Monday, November 24th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, AST SpaceMobile currently has an average rating of “Hold” and a consensus target price of $45.66.

View Our Latest Stock Analysis on ASTS

AST SpaceMobile Company Profile

(Get Free Report)

AST SpaceMobile is a U.S.-based aerospace company developing a space-based cellular broadband network designed to connect standard mobile phones and other devices directly to satellites. The company’s core proposition is “space-to-cell” service: operating a constellation of low-Earth-orbit (LEO) satellites equipped with large, high-power phased-array antennas to provide wide-area mobile broadband without requiring users to buy specialized terminals or handset modifications.

AST SpaceMobile designs, builds and operates satellite payloads and supporting ground infrastructure.

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