AST SpaceMobile, Inc. (NASDAQ:ASTS) Director Julio A. Torres Sells 20,000 Shares

AST SpaceMobile, Inc. (NASDAQ:ASTS) Director Julio A. Torres sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $30.73, for a total transaction of $614,600.00. Following the transaction, the director now owns 52,628 shares of the company’s stock, valued at $1,617,258.44. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

AST SpaceMobile Stock Down 12.8 %

ASTS stock opened at $29.14 on Tuesday. The company has a fifty day moving average price of $25.07 and a 200 day moving average price of $25.37. AST SpaceMobile, Inc. has a 12 month low of $1.97 and a 12 month high of $39.08. The company has a market cap of $9.22 billion, a price-to-earnings ratio of -13.75 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

Institutional Trading of AST SpaceMobile

Institutional investors and hedge funds have recently bought and sold shares of the business. Amalgamated Bank grew its stake in AST SpaceMobile by 17.4% in the 3rd quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock valued at $120,000 after acquiring an additional 679 shares during the last quarter. Xponance Inc. raised its holdings in AST SpaceMobile by 8.7% in the fourth quarter. Xponance Inc. now owns 9,676 shares of the company’s stock valued at $204,000 after buying an additional 772 shares during the period. CIBC Private Wealth Group LLC raised its holdings in AST SpaceMobile by 106.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock valued at $53,000 after buying an additional 1,222 shares during the period. Americana Partners LLC raised its holdings in AST SpaceMobile by 5.2% in the fourth quarter. Americana Partners LLC now owns 27,047 shares of the company’s stock valued at $571,000 after buying an additional 1,326 shares during the period. Finally, Axxcess Wealth Management LLC raised its holdings in AST SpaceMobile by 16.7% in the fourth quarter. Axxcess Wealth Management LLC now owns 10,562 shares of the company’s stock valued at $223,000 after buying an additional 1,508 shares during the period. Hedge funds and other institutional investors own 60.95% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ASTS. UBS Group boosted their price objective on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Scotiabank restated an “outperform” rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $30.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, AST SpaceMobile presently has an average rating of “Buy” and a consensus price target 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.