AST SpaceMobile, Inc. (NASDAQ:ASTS) CTO Huiwen Yao Sells 45,000 Shares

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) CTO Huiwen Yao sold 45,000 shares of AST SpaceMobile stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $24.26, for a total value of $1,091,700.00. Following the sale, the chief technology officer now owns 55,000 shares of the company's stock, valued at approximately $1,334,300. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

AST SpaceMobile Stock Up 2.0 %

Shares of NASDAQ ASTS traded up $0.46 during midday trading on Thursday, reaching $23.07. 7,164,204 shares of the company's stock traded hands, compared to its average volume of 10,579,691. The company has a market cap of $5.94 billion, a price-to-earnings ratio of -23.59 and a beta of 1.62. AST SpaceMobile, Inc. has a one year low of $1.97 and a one year high of $39.08. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83. The stock's 50 day simple moving average is $26.73 and its 200-day simple moving average is $14.07.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.05. The company had revenue of $0.90 million during the quarter, compared to the consensus estimate of $2.00 million. On average, analysts predict that AST SpaceMobile, Inc. will post -0.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ASTS has been the topic of several recent analyst reports. B. Riley raised their price target on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, August 29th. Scotiabank lifted their price target on shares of AST SpaceMobile from $28.00 to $45.90 and gave the company a "sector outperform" rating in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft raised their price objective on AST SpaceMobile from $22.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. Finally, UBS Group lifted their target price on AST SpaceMobile from $13.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, August 15th.

Institutional Trading of AST SpaceMobile

Institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. boosted its position 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 in the last quarter. Accordant Advisory Group Inc raised its position in shares of AST SpaceMobile by 2.0% in the 2nd quarter. Accordant Advisory Group Inc now owns 162,823 shares of the company's stock valued at $1,890,000 after purchasing an additional 3,146 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in AST SpaceMobile in the 3rd quarter worth approximately $105,000. MBE Wealth Management LLC raised its holdings in shares of AST SpaceMobile by 34.1% in the second quarter. MBE Wealth Management LLC now owns 27,000 shares of the company's stock worth $313,000 after buying an additional 6,870 shares during the last quarter. Finally, Sanders Morris Harris LLC lifted its stake in shares of AST SpaceMobile by 39.6% during the third quarter. Sanders Morris Harris LLC now owns 25,387 shares of the company's stock worth $664,000 after buying an additional 7,200 shares during the period. 60.95% of the stock is currently owned by institutional investors.

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.

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