Julio A. Torres Sells 20,000 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS) Director Julio A. Torres sold 20,000 shares of AST SpaceMobile stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $30.73, for a total transaction of $614,600.00. Following the completion of the transaction, the director now directly owns 52,628 shares of the company’s stock, valued at approximately $1,617,258.44. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

AST SpaceMobile Stock Down 3.8 %

AST SpaceMobile stock opened at $27.56 on Thursday. The company’s 50-day moving average price is $25.35 and its two-hundred day moving average price is $25.35. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The stock has a market cap of $8.72 billion, a P/E ratio of -13.00 and a beta of 1.62. AST SpaceMobile, Inc. has a twelve month low of $1.97 and a twelve month high of $39.08.

Hedge Funds Weigh In On AST SpaceMobile

Several institutional investors and hedge funds have recently made changes to their positions in the company. Summit Securities Group LLC bought a new stake in AST SpaceMobile in the 4th quarter valued at $37,000. Bernard Wealth Management Corp. acquired a new stake in shares of AST SpaceMobile during the fourth quarter worth $42,000. Golden State Wealth Management LLC bought a new stake in shares of AST SpaceMobile in the fourth quarter valued at about $46,000. CIBC Private Wealth Group LLC grew its stake in shares of AST SpaceMobile by 106.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock valued at $53,000 after acquiring an additional 1,222 shares in the last quarter. Finally, AlphaQuest LLC acquired a new position in shares of AST SpaceMobile in the fourth quarter valued at about $67,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ASTS shares. UBS Group raised their target price on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Finally, Scotiabank reissued an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $42.98.

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.