AST SpaceMobile (NASDAQ:ASTS) Director Keith Larson Buys 715 Shares

AST SpaceMobile, Inc. (NASDAQ:ASTS) Director Keith Larson bought 715 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was bought at an average price of $70.02 per share, for a total transaction of $50,064.30. Following the purchase, the director directly owned 1,390 shares of the company’s stock, valued at $97,327.80. The trade was a 105.93% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

AST SpaceMobile Trading Down 9.5%

Shares of ASTS stock traded down $6.51 during mid-day trading on Wednesday, hitting $61.86. 12,530,315 shares of the stock traded hands, compared to its average volume of 11,686,450. AST SpaceMobile, Inc. has a 52-week low of $17.50 and a 52-week high of $102.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 9.48 and a current ratio of 9.56. The stock’s fifty day moving average is $70.80 and its two-hundred day moving average is $55.61.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.27). AST SpaceMobile had a negative return on equity of 27.76% and a negative net margin of 1,639.59%.The firm had revenue of $14.74 million during the quarter, compared to analysts’ expectations of $22.04 million. During the same period in the previous year, the firm earned ($1.10) EPS. The firm’s quarterly revenue was up 1236.4% on a year-over-year basis. On average, sell-side analysts anticipate that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on ASTS shares. Barclays lowered AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 price objective for the company. in a report on Friday, October 17th. Zacks Research cut AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. UBS Group downgraded AST SpaceMobile from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $62.00 to $43.00 in a report on Tuesday, September 9th. Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Monday. Finally, Scotiabank raised shares of 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. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $45.66.

Hedge Funds Weigh In On AST SpaceMobile

Hedge funds and other institutional investors have recently bought and sold shares of the business. REAP Financial Group LLC acquired a new position in AST SpaceMobile during the third quarter valued at $25,000. Atlantic Union Bankshares Corp acquired a new stake in shares of AST SpaceMobile during the 2nd quarter worth approximately $28,000. Harvest Fund Management Co. Ltd acquired a new position in shares of AST SpaceMobile in the 3rd quarter valued at $29,000. Geneos Wealth Management Inc. lifted its stake in shares of AST SpaceMobile by 225.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 650 shares of the company’s stock valued at $32,000 after purchasing an additional 450 shares during the period. Finally, Binnacle Investments Inc purchased a new stake in AST SpaceMobile during the second quarter worth $33,000. 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.