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

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) Director Julio A. Torres sold 20,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $30.73, for a total value of $614,600.00. Following the sale, the director now owns 52,628 shares of the company's stock, valued at approximately $1,617,258.44. The trade was a 27.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

AST SpaceMobile Price Performance

Shares of ASTS traded down $1.44 during mid-day trading on Thursday, reaching $26.12. The company had a trading volume of 8,422,029 shares, compared to its average volume of 11,899,744. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The company has a market capitalization of $8.27 billion, a P/E ratio of -12.32 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. The company's 50-day moving average is $25.44 and its 200-day moving average is $25.36.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ASTS. Amalgamated Bank grew its stake in AST SpaceMobile by 17.4% during the third quarter. Amalgamated Bank now owns 4,578 shares of the company's stock worth $120,000 after buying an additional 679 shares during the last quarter. Xponance Inc. grew its position in AST SpaceMobile by 8.7% during the 4th quarter. Xponance Inc. now owns 9,676 shares of the company's stock worth $204,000 after acquiring an additional 772 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in AST SpaceMobile by 106.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock valued at $53,000 after purchasing an additional 1,222 shares in the last quarter. Americana Partners LLC boosted its stake in AST SpaceMobile by 5.2% in the fourth quarter. Americana Partners LLC now owns 27,047 shares of the company's stock worth $571,000 after purchasing an additional 1,326 shares in the last quarter. Finally, Axxcess Wealth Management LLC grew its holdings in shares of AST SpaceMobile by 16.7% during the fourth quarter. Axxcess Wealth Management LLC now owns 10,562 shares of the company's stock worth $223,000 after purchasing an additional 1,508 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Scotiabank reiterated an "outperform" rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. UBS Group lifted their target price on AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $30.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus 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.