AST SpaceMobile (NASDAQ:ASTS) CTO Huiwen Yao Sells 40,000 Shares of Stock

AST SpaceMobile, Inc. (NASDAQ:ASTS) CTO Huiwen Yao sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $96.37, for a total value of $3,854,800.00. Following the transaction, the chief technology officer owned 34,750 shares of the company’s stock, valued at approximately $3,348,857.50. This represents a 53.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Huiwen Yao also recently made the following trade(s):

• On Monday, March 23rd, Huiwen Yao sold 40,000 shares of AST SpaceMobile stock. The shares were sold at an average price of $88.88, for a total value of $3,555,200.00.

AST SpaceMobile Price Performance

Shares of AST SpaceMobile stock opened at $92.06 on Tuesday. The company has a quick ratio of 18.37, a current ratio of 18.47 and a debt-to-equity ratio of 1.11. The company has a market cap of $35.73 billion, a PE ratio of -51.72 and a beta of 2.70. The business has a 50 day moving average of $89.69 and a 200 day moving average of $87.16. AST SpaceMobile, Inc. has a 52 week low of $32.25 and a 52 week high of $133.86.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.43). The firm had revenue of $14.74 million during the quarter, compared to the consensus estimate of $39.01 million. AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.AST SpaceMobile’s revenue for the quarter was up 1952.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.20) EPS. As a group, equities research analysts forecast that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current year.

Analyst Ratings Changes

ASTS has been the subject of a number of research reports. Zacks Research upgraded AST SpaceMobile from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Roth Mkm reiterated a “buy” rating and issued a $108.00 price objective on shares of AST SpaceMobile in a report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft downgraded AST SpaceMobile from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $117.00 to $106.00 in a report on Friday, May 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AST SpaceMobile in a report on Friday, March 27th. Finally, William Blair reiterated a “market perform” rating on shares of AST SpaceMobile in a report on Friday, May 29th. One analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, AST SpaceMobile has a consensus rating of “Reduce” and a consensus target price of $81.33.

Institutional Investors Weigh In On AST SpaceMobile

Institutional investors have recently modified their holdings of the business. Calton & Associates Inc. boosted its position in AST SpaceMobile by 0.8% in the fourth quarter. Calton & Associates Inc. now owns 13,579 shares of the company’s stock worth $986,000 after purchasing an additional 104 shares during the last quarter. Investmark Advisory Group LLC boosted its position in AST SpaceMobile by 2.7% in the fourth quarter. Investmark Advisory Group LLC now owns 4,645 shares of the company’s stock worth $337,000 after purchasing an additional 120 shares during the last quarter. ORG Partners LLC boosted its position in AST SpaceMobile by 4.2% in the fourth quarter. ORG Partners LLC now owns 3,283 shares of the company’s stock worth $238,000 after purchasing an additional 133 shares during the last quarter. Atlantic Union Bankshares Corp boosted its position in AST SpaceMobile by 18.2% in the fourth quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company’s stock worth $67,000 after purchasing an additional 142 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position in AST SpaceMobile by 39.0% in the fourth quarter. Larson Financial Group LLC now owns 513 shares of the company’s stock worth $37,000 after purchasing an additional 144 shares during the last quarter. 60.95% of the stock is owned by hedge funds and other institutional investors.

About AST SpaceMobile

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.