Maya Bernal Sells 6,000 Shares of AST SpaceMobile (NASDAQ:ASTS) Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS) CAO Maya Bernal sold 6,000 shares of the firm’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $73.76, for a total value of $442,560.00. Following the transaction, the chief accounting officer directly owned 122,486 shares of the company’s stock, valued at $9,034,567.36. The trade was a 4.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

AST SpaceMobile Stock Down 1.6%

Shares of NASDAQ:ASTS opened at $72.84 on Wednesday. The company has a quick ratio of 9.48, a current ratio of 9.56 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $26.73 billion, a P/E ratio of -58.74 and a beta of 2.76. AST SpaceMobile, Inc. has a 52-week low of $17.50 and a 52-week high of $102.79. The stock’s fifty day simple moving average is $70.04 and its 200-day simple moving average is $53.81.

AST SpaceMobile (NASDAQ:ASTS) last announced its 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 firm had revenue of $14.74 million during the quarter, compared to analyst estimates of $22.04 million. AST SpaceMobile had a negative net margin of 1,639.59% and a negative return on equity of 27.76%. The company’s revenue for the quarter was up 1236.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.10) EPS. As a group, equities research analysts forecast that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Monday. Roth Capital restated a “buy” rating on shares of AST SpaceMobile in a report on Tuesday, August 12th. Scotiabank raised AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $45.60 price objective for the company in a research report on Monday, November 24th. Zacks Research downgraded AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Finally, UBS Group lowered AST SpaceMobile from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $62.00 to $43.00 in a research note on Tuesday, September 9th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $45.66.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rakuten Group Inc. acquired a new stake in AST SpaceMobile during the first quarter worth about $705,398,000. Vanguard Group Inc. grew 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 period. Clear Street Group Inc. acquired a new stake in AST SpaceMobile during the 3rd quarter worth approximately $90,129,000. Voya Investment Management LLC raised its holdings in AST SpaceMobile by 1,992.5% in the first quarter. Voya Investment Management LLC now owns 843,554 shares of the company’s stock valued at $19,182,000 after buying an additional 803,240 shares during the period. Finally, Jump Financial LLC purchased a new position in AST SpaceMobile in the first quarter valued at approximately $14,750,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

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.