AST SpaceMobile, Inc. (NASDAQ:ASTS) President Scott Wisniewski Sells 2,700 Shares

AST SpaceMobile, Inc. (NASDAQ:ASTS) President Scott Wisniewski sold 2,700 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $23.12, for a total value of $62,424.00. Following the sale, the president now owns 712,660 shares in the company, valued at $16,476,699.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

AST SpaceMobile Price Performance

Shares of NASDAQ ASTS opened at $24.11 on Wednesday. The firm has a market cap of $6.21 billion, a PE ratio of -24.60 and a beta of 1.63. The business has a 50 day moving average price of $25.95 and a two-hundred day moving average price of $13.25. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83. AST SpaceMobile, Inc. has a fifty-two week low of $1.97 and a fifty-two week high of $39.08.

AST SpaceMobile (NASDAQ:ASTS) last issued its 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 firm had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.00 million. Sell-side analysts expect that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. UBS Group raised their price objective on AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. B. Riley raised their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Scotiabank raised their price objective on AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a research note on Monday, August 26th.

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.