Key Points
- COO Shanti Gupta sold 10,000 shares on Dec. 10 at an average price of $77.34 for $773,400, leaving her with 382,375 shares — a 2.55% reduction in her ownership (≈$29.57M value).
- AST SpaceMobile missed Q3 expectations, reporting ($0.45) EPS vs. a ($0.18) consensus and $14.74M revenue vs. $22.04M expected, producing a very large negative net margin despite strong year-over-year revenue growth.
- The stock opened at $76.70 and was reported down 9.5%; the company has a ~$28.15B market cap, a negative P/E, and a consensus analyst rating of "Hold" with an average target of $45.66, well below the current share price.
AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) COO Shanti Gupta sold 10,000 shares of AST SpaceMobile stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $77.34, for a total value of $773,400.00. Following the transaction, the chief operating officer owned 382,375 shares in the company, valued at approximately $29,572,882.50. This represents a 2.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
AST SpaceMobile Stock Down 9.5%
NASDAQ:ASTS opened at $76.70 on Friday. AST SpaceMobile, Inc. has a 1 year low of $17.50 and a 1 year high of $102.79. The stock has a 50-day moving average price of $71.03 and a two-hundred day moving average price of $54.57. The stock has a market cap of $28.15 billion, a price-to-earnings ratio of -61.85 and a beta of 2.76. 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 (NASDAQ:ASTS - Get Free Report) last released its quarterly earnings data on Monday, November 10th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.27). AST SpaceMobile had a negative net margin of 1,639.59% and a negative return on equity of 27.76%. The business had revenue of $14.74 million for the quarter, compared to the consensus estimate of $22.04 million. During the same quarter last year, the firm earned ($1.10) EPS. The company's revenue for the quarter was up 1236.4% on a year-over-year basis. As a group, equities analysts expect that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.
Analysts Set New Price Targets
ASTS has been the subject of several research analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of AST SpaceMobile in a report on Monday. William Blair initiated coverage on shares of AST SpaceMobile in a research report on Thursday, August 21st. They issued a "market perform" rating on the stock. Scotiabank raised shares of AST SpaceMobile from a "sector underperform" rating to a "sector perform" rating and set a $45.60 target price for the company in a research note on Monday, November 24th. UBS Group downgraded AST SpaceMobile from a "buy" rating to a "neutral" rating and dropped their price target for the company from $62.00 to $43.00 in a research note on Tuesday, September 9th. Finally, Barclays lowered AST SpaceMobile from an "overweight" rating to an "underweight" rating and set a $60.00 price target on the stock. in a report on Friday, October 17th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, AST SpaceMobile presently has a consensus rating of "Hold" and an average target price of $45.66.
Read Our Latest Report on AST SpaceMobile
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of ASTS. Rakuten Group Inc. acquired a new position in shares of AST SpaceMobile during the 1st quarter worth approximately $705,398,000. Vanguard Group Inc. grew its stake in shares of 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 in the last quarter. Clear Street Group Inc. acquired a new position in AST SpaceMobile during the third quarter worth $90,129,000. Northern Trust Corp raised 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 worth $28,796,000 after acquiring an additional 33,259 shares in the last quarter. Finally, Gotham Asset Management LLC raised its position 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 acquiring an additional 231,549 shares in the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.
About AST SpaceMobile
(
Get Free Report)
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.
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