Scott Wisniewski Sells 2,700 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS) President Scott Wisniewski sold 2,700 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $23.12, for a total value of $62,424.00. Following the sale, the president now directly owns 712,660 shares in the company, valued at approximately $16,476,699.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AST SpaceMobile Stock Performance

AST SpaceMobile stock opened at $24.11 on Wednesday. The stock’s 50-day moving average is $25.95 and its 200-day moving average is $13.25. The company has a market cap of $6.21 billion, a price-to-earnings ratio of -24.60 and a beta of 1.63. 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 12 month low of $1.97 and a 12 month high of $39.08.

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

Analysts Set New Price Targets

A number of analysts have issued reports on the company. B. Riley raised their price target on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft raised their price target on AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Scotiabank raised their price target on AST SpaceMobile from $28.00 to $45.90 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. Finally, UBS Group raised their price target on AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th.

Hedge Funds Weigh In On AST SpaceMobile

A number of large investors have recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in shares of AST SpaceMobile by 5.5% in the 2nd quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock worth $180,000 after purchasing an additional 814 shares during the period. Accordant Advisory Group Inc raised its holdings in shares of AST SpaceMobile by 2.0% during the 2nd quarter. Accordant Advisory Group Inc now owns 162,823 shares of the company’s stock valued at $1,890,000 after buying an additional 3,146 shares during the period. MBE Wealth Management LLC raised its holdings in shares of AST SpaceMobile by 34.1% during the 2nd quarter. MBE Wealth Management LLC now owns 27,000 shares of the company’s stock valued at $313,000 after buying an additional 6,870 shares during the period. Cantor Fitzgerald L. P. purchased a new stake in shares of AST SpaceMobile during the 4th quarter valued at about $66,000. Finally, Calton & Associates Inc. purchased a new stake in shares of AST SpaceMobile during the 2nd quarter valued at about $128,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

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.