AST SpaceMobile (NASDAQ:ASTS) Director Keith Larson Acquires 675 Shares

AST SpaceMobile, Inc. (NASDAQ:ASTS) Director Keith Larson bought 675 shares of AST SpaceMobile stock in a transaction on Wednesday, December 10th. The stock was acquired at an average cost of $72.71 per share, with a total value of $49,079.25. Following the acquisition, the director owned 675 shares of the company’s stock, valued at $49,079.25. This trade represents a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

AST SpaceMobile Price Performance

Shares of ASTS traded up $6.21 during trading hours on Wednesday, reaching $79.05. The company had a trading volume of 14,482,776 shares, compared to its average volume of 12,050,030. The company has a current ratio of 9.56, a quick ratio of 9.48 and a debt-to-equity ratio of 0.43. AST SpaceMobile, Inc. has a 12-month low of $17.50 and a 12-month high of $102.79. The firm has a 50 day simple moving average of $70.04 and a 200-day simple moving average of $53.81. The company has a market capitalization of $29.01 billion, a price-to-earnings ratio of -63.75 and a beta of 2.76.

AST SpaceMobile (NASDAQ:ASTS) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $14.74 million for the quarter, compared to analysts’ expectations of $22.04 million. During the same period in the prior year, the firm posted ($1.10) EPS. The firm’s quarterly revenue was up 1236.4% on a year-over-year basis. Research analysts expect that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Institutional Investors Weigh In On AST SpaceMobile

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Rakuten Group Inc. acquired a new position in shares of AST SpaceMobile in the 1st quarter valued at about $705,398,000. Vanguard Group Inc. raised its holdings in AST SpaceMobile by 13.4% in the third quarter. Vanguard Group Inc. now owns 19,919,888 shares of the company’s stock valued at $977,668,000 after buying an additional 2,351,539 shares during the period. Clear Street Group Inc. purchased a new position in AST SpaceMobile in the third quarter valued at approximately $90,129,000. Northern Trust Corp lifted its position in AST SpaceMobile by 2.7% during the first quarter. Northern Trust Corp now owns 1,266,315 shares of the company’s stock valued at $28,796,000 after buying an additional 33,259 shares in the last quarter. Finally, Gotham Asset Management LLC grew its stake in AST SpaceMobile by 37.8% during the third quarter. Gotham Asset Management LLC now owns 843,738 shares of the company’s stock worth $41,411,000 after buying an additional 231,549 shares during the period. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Scotiabank raised AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $45.60 price objective for the company in a report on Monday, November 24th. UBS Group downgraded AST SpaceMobile from a “buy” rating to a “neutral” rating and cut their price target for the stock from $62.00 to $43.00 in a research note on Tuesday, September 9th. Barclays cut shares of AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 price objective on the stock. in a research note on Friday, October 17th. William Blair began coverage on shares of AST SpaceMobile in a research report on Thursday, August 21st. They set a “market perform” rating for the company. Finally, Zacks Research downgraded shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, AST SpaceMobile presently has a consensus rating of “Hold” and an average price target of $45.66.

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.