Insider Selling: AST SpaceMobile (NASDAQ:ASTS) Director Sells 15,000 Shares of Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS) Director Julio Torres sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $76.34, for a total value of $1,145,100.00. Following the sale, the director directly owned 43,239 shares in the company, valued at $3,300,865.26. This trade represents a 25.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

AST SpaceMobile Price Performance

NASDAQ ASTS traded up $8.20 during mid-day trading on Thursday, hitting $83.01. The stock had a trading volume of 27,097,476 shares, compared to its average volume of 16,150,535. AST SpaceMobile, Inc. has a 52-week low of $22.47 and a 52-week high of $129.89. The company has a market cap of $31.71 billion, a price-to-earnings ratio of -46.63 and a beta of 2.60. The company has a 50 day simple moving average of $85.27 and a 200 day simple moving average of $82.89. The company has a quick ratio of 16.27, a current ratio of 18.47 and a debt-to-equity ratio of 1.11.

AST SpaceMobile (NASDAQ:ASTS) last posted its earnings results on Monday, May 11th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.43). The firm had revenue of $14.74 million for the quarter, compared to analysts’ expectations of $39.01 million. AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.The firm’s revenue for the quarter was up 1952.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.20) earnings per share. Equities analysts forecast that AST SpaceMobile, Inc. will post -0.99 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ASTS has been the topic of a number of research reports. B. Riley Financial increased their price objective on shares of AST SpaceMobile from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Tuesday. Zacks Research upgraded shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Wall Street Zen downgraded shares of AST SpaceMobile from a “sell” rating to a “strong sell” rating in a report on Wednesday, April 15th. New Street Research assumed coverage on shares of AST SpaceMobile in a research report on Wednesday. They issued a “neutral” rating and a $80.00 price target on the stock. Finally, Barclays lifted their price objective on AST SpaceMobile from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Thursday, April 9th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $79.45.

Institutional Trading of AST SpaceMobile

Large investors have recently made changes to their positions in the stock. Calton & Associates Inc. increased its position in AST SpaceMobile by 0.8% during the 4th quarter. Calton & Associates Inc. now owns 13,579 shares of the company’s stock worth $986,000 after purchasing an additional 104 shares in the last quarter. Investmark Advisory Group LLC lifted its holdings in AST SpaceMobile by 2.7% in the 4th quarter. Investmark Advisory Group LLC now owns 4,645 shares of the company’s stock valued at $337,000 after purchasing an additional 120 shares in the last quarter. ORG Partners LLC lifted its holdings in AST SpaceMobile by 4.2% in the 4th quarter. ORG Partners LLC now owns 3,283 shares of the company’s stock valued at $238,000 after purchasing an additional 133 shares in the last quarter. Atlantic Union Bankshares Corp boosted its stake in shares of AST SpaceMobile by 18.2% during the 4th quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company’s stock worth $67,000 after purchasing an additional 142 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of AST SpaceMobile by 39.0% during the fourth quarter. Larson Financial Group LLC now owns 513 shares of the company’s stock worth $37,000 after buying an additional 144 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

AST SpaceMobile News Summary

Here are the key news stories impacting AST SpaceMobile this week:

• Positive Sentiment: The new wireless-carrier joint venture could expand the market for satellite-based mobile connectivity and indirectly support demand for AST SpaceMobile’s technology. Spooked By Musk’s SpaceX, Big Three Wireless Firms Forge Satellite-To-Phone Joint Venture
• Positive Sentiment: AST SpaceMobile publicly welcomed the AT&T, Verizon, and T-Mobile announcement, reinforcing the idea that its business model is gaining industry relevance. AST SpaceMobile Commends Proposed Direct-to-Device Joint Venture by U.S. Mobile Network Operators
• Neutral Sentiment: New Street Research launched coverage of several space-related stocks, including AST SpaceMobile, which may increase investor attention but does not by itself change fundamentals. New Street Research Launches Space Economy and Infrastructure Coverage
• Negative Sentiment: Recent commentary also highlighted that AST SpaceMobile is still facing execution risk after its Q1 earnings miss, which could limit how long the rally lasts if growth targets are not met. Should ASTS Stock Be Part of Your Portfolio Post Q1 Earnings Miss?

About AST SpaceMobile

AST SpaceMobile is a U.S.-based aerospace company developing a space-based cellular broadband network designed to connect standard mobile phones and other devices directly to satellites. The company’s core proposition is “space-to-cell” service: operating a constellation of low-Earth-orbit (LEO) satellites equipped with large, high-power phased-array antennas to provide wide-area mobile broadband without requiring users to buy specialized terminals or handset modifications.

AST SpaceMobile designs, builds and operates satellite payloads and supporting ground infrastructure.