AST SpaceMobile, Inc. (NASDAQ:ASTS) CTO Huiwen Yao Sells 45,000 Shares

AST SpaceMobile, Inc. (NASDAQ:ASTS) CTO Huiwen Yao sold 45,000 shares of AST SpaceMobile stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the sale, the chief technology officer now owns 55,000 shares of the company’s stock, valued at approximately $1,334,300. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

AST SpaceMobile Price Performance

NASDAQ ASTS traded up $0.46 during trading hours on Thursday, reaching $23.07. The company’s stock had a trading volume of 7,164,204 shares, compared to its average volume of 10,579,691. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38. AST SpaceMobile, Inc. has a 1-year low of $1.97 and a 1-year high of $39.08. The company’s 50-day moving average is $26.73 and its two-hundred day moving average is $14.07. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of -23.59 and a beta of 1.62.

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

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. B. Riley boosted their target price on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. UBS Group boosted their price objective on AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, August 15th. 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 report on Wednesday, September 4th. Finally, Scotiabank boosted their price target on AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a report on Monday, August 26th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ASTS. BNP Paribas purchased a new stake in shares of AST SpaceMobile during the first quarter worth $43,000. Principal Financial Group Inc. acquired a new position in shares of AST SpaceMobile during the 1st quarter worth approximately $45,000. Cantor Fitzgerald L. P. purchased a new stake in shares of AST SpaceMobile in the fourth quarter valued at approximately $66,000. Black Maple Capital Management LP acquired a new stake in shares of AST SpaceMobile in the first quarter valued at approximately $87,000. Finally, Future Financial Wealth Managment LLC purchased a new position in AST SpaceMobile during the third quarter worth approximately $105,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

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.