Adriana Cisneros Purchases 10,822 Shares of AST SpaceMobile (NASDAQ:ASTS) Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS) Director Adriana Cisneros acquired 10,822 shares of the firm’s stock in a transaction on Monday, August 31st. The shares were acquired at an average price of $57.22 per share, with a total value of $619,234.84. Following the completion of the purchase, the director owned 797,023 shares of the company’s stock, valued at $45,605,656.06. This trade represents a 1.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

AST SpaceMobile Trading Down 5.6%

Shares of AST SpaceMobile stock traded down $3.30 during trading hours on Tuesday, hitting $55.80. The company’s stock had a trading volume of 8,307,225 shares, compared to its average volume of 17,298,785. The business has a fifty day moving average of $67.72 and a 200 day moving average of $81.25. AST SpaceMobile, Inc. has a 1-year low of $36.08 and a 1-year high of $133.86. The company has a quick ratio of 12.90, a current ratio of 13.05 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $21.72 billion, a PE ratio of -26.07 and a beta of 2.76.

AST SpaceMobile (NASDAQ:ASTS) last posted its earnings results on Monday, August 10th. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.45). AST SpaceMobile had a negative net margin of 536.66% and a negative return on equity of 22.88%. The business had revenue of $31.52 million for the quarter, compared to analyst estimates of $34.53 million. During the same quarter in the previous year, the firm posted ($0.41) EPS. As a group, equities analysts forecast that AST SpaceMobile, Inc. will post -1.95 EPS for the current year.

Analysts Set New Price Targets

ASTS has been the topic of several research reports. Scotiabank raised AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $50.80 price objective on the stock in a research report on Wednesday, July 29th. Roth Capital reaffirmed a “buy” rating and issued a $108.00 target price on shares of AST SpaceMobile in a research report on Tuesday, May 12th. Cantor Fitzgerald increased their target price on AST SpaceMobile from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. Piper Sandler dropped their target price on AST SpaceMobile from $100.00 to $98.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Finally, UBS Group dropped their target price on AST SpaceMobile from $80.00 to $78.00 and set a “neutral” rating on the stock in a report on Tuesday, August 11th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $85.98.

Institutional Investors Weigh In On AST SpaceMobile

A number of large investors have recently added to or reduced their stakes in ASTS. HORAN Wealth LLC purchased a new stake in AST SpaceMobile during the 2nd quarter worth $220,000. California State Teachers Retirement System boosted its position in AST SpaceMobile by 11,947.9% in the 2nd quarter. California State Teachers Retirement System now owns 31,526,551 shares of the company’s stock valued at $2,801,449,000 after buying an additional 31,264,875 shares during the last quarter. Ameritas Advisory Services LLC boosted its position in AST SpaceMobile by 95.4% in the 2nd quarter. Ameritas Advisory Services LLC now owns 13,264 shares of the company’s stock valued at $1,179,000 after buying an additional 6,475 shares during the last quarter. HB Wealth Management LLC grew its stake in shares of AST SpaceMobile by 59.9% during the second quarter. HB Wealth Management LLC now owns 3,947 shares of the company’s stock valued at $351,000 after acquiring an additional 1,479 shares in the last quarter. Finally, Saudi Central Bank grew its stake in shares of AST SpaceMobile by 100.5% during the second quarter. Saudi Central Bank now owns 16,652 shares of the company’s stock valued at $1,480,000 after acquiring an additional 8,348 shares in the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.

AST SpaceMobile Company Profile

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.