Insider Buying: AST SpaceMobile (NASDAQ:ASTS) Director Acquires $38,092.50 in Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS) Director Adriana Cisneros purchased 750 shares of AST SpaceMobile stock in a transaction dated Thursday, November 20th. The shares were bought at an average cost of $50.79 per share, for a total transaction of $38,092.50. Following the transaction, the director directly owned 784,077 shares of the company’s stock, valued at approximately $39,823,270.83. The trade was a 0.10% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

AST SpaceMobile Stock Up 0.0%

Shares of AST SpaceMobile stock opened at $55.52 on Thursday. The business has a 50-day moving average price of $67.33 and a 200 day moving average price of $51.19. AST SpaceMobile, Inc. has a fifty-two week low of $17.50 and a fifty-two week high of $102.79. The firm has a market cap of $20.38 billion, a P/E ratio of -44.77 and a beta of 2.46. The company has a quick ratio of 9.48, a current ratio of 9.56 and a debt-to-equity ratio of 0.43.

AST SpaceMobile (NASDAQ:ASTS) last issued its earnings results on Monday, November 10th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.27). AST SpaceMobile had a negative return on equity of 27.76% and a negative net margin of 1,639.59%.The firm had revenue of $14.74 million during the quarter, compared to analyst estimates of $22.04 million. During the same quarter in the previous year, the business posted ($1.10) EPS. AST SpaceMobile’s revenue was up 1236.4% compared to the same quarter last year. On average, sell-side analysts forecast that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of AST SpaceMobile

Several hedge funds have recently bought and sold shares of the company. REAP Financial Group LLC bought a new position in AST SpaceMobile in the 3rd quarter worth about $25,000. Atlantic Union Bankshares Corp acquired a new position in shares of AST SpaceMobile during the second quarter worth approximately $28,000. Harvest Fund Management Co. Ltd acquired a new position in shares of AST SpaceMobile during the third quarter worth approximately $29,000. Geneos Wealth Management Inc. grew its holdings in AST SpaceMobile by 225.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 650 shares of the company’s stock worth $32,000 after buying an additional 450 shares in the last quarter. Finally, Binnacle Investments Inc acquired a new stake in AST SpaceMobile in the 2nd quarter valued at approximately $33,000. 60.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ASTS has been the subject of several recent research reports. Barclays lowered shares of AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 target price for the company. in a research note on Friday, October 17th. Scotiabank raised shares of AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $45.60 price objective for the company in a research report on Monday. Zacks Research lowered shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. UBS Group downgraded AST SpaceMobile from a “buy” rating to a “neutral” rating and decreased their target price for the company from $62.00 to $43.00 in a research note on Tuesday, September 9th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AST SpaceMobile in a report on Monday. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $45.66.

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.