Key Points
- AST SpaceMobile CTO Huiwen Yao sold 40,000 shares on Friday, June 5, at an average price of $96.37, totaling about $3.85 million. The sale reduced Yao’s direct holdings by more than half and was made under a pre-arranged Rule 10b5-1 trading plan.
- The insider sale follows a prior transaction in March, when Yao also sold 40,000 shares at an average price of $88.88, showing a pattern of planned stock sales.
- AST SpaceMobile shares were down 1.6% as the article was published, and the company continues to draw mixed analyst sentiment, with a consensus rating of “Reduce” and an average price target of $81.33.
AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction dated 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 directly owned 34,750 shares in the company, valued at approximately $3,348,857.50. The trade was a 53.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 Stock Down 1.6%
ASTS stock opened at $92.06 on Tuesday. AST SpaceMobile, Inc. has a twelve month low of $32.25 and a twelve month high of $133.86. 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 stock has a market cap of $35.73 billion, a P/E ratio of -51.72 and a beta of 2.70. The business's 50-day moving average price is $89.69 and its 200-day moving average price is $87.16.
AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.66) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.43). The company had revenue of $14.74 million for the quarter, compared to analysts' expectations of $39.01 million. AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The firm's quarterly revenue was up 1952.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.20) earnings per share. On average, equities research analysts forecast that AST SpaceMobile, Inc. will post -1.47 EPS for the current year.
Analysts Set New Price Targets
A number of equities research analysts have commented on the company. Wall Street Zen cut AST SpaceMobile from a "sell" rating to a "strong sell" rating in a report on Wednesday, April 15th. William Blair reissued a "market perform" rating on shares of AST SpaceMobile in a report on Friday, May 29th. Roth Mkm reissued a "buy" rating and issued a $108.00 price target on shares of AST SpaceMobile in a report on Tuesday, May 12th. UBS Group cut their price objective on shares of AST SpaceMobile from $85.00 to $80.00 and set a "neutral" rating for the company in a report on Tuesday, May 12th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of AST SpaceMobile from a "buy" rating to a "hold" rating and cut their price objective for the company from $117.00 to $106.00 in a report on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $81.33.
Read Our Latest Stock Analysis on ASTS
Institutional Trading of AST SpaceMobile
Hedge funds have recently modified their holdings of the company. REAP Financial Group LLC purchased a new stake in shares of AST SpaceMobile during the 3rd quarter worth approximately $25,000. Crewe Advisors LLC purchased a new stake in shares of AST SpaceMobile during the 4th quarter worth approximately $25,000. Laurel Wealth Advisors LLC purchased a new stake in shares of AST SpaceMobile during the 4th quarter worth approximately $25,000. Cornerstone Planning Group LLC raised its holdings in shares of AST SpaceMobile by 16,350.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 329 shares of the company's stock worth $27,000 after acquiring an additional 327 shares in the last quarter. Finally, Byrne Asset Management LLC purchased a new stake in shares of AST SpaceMobile during the 4th quarter worth approximately $29,000. 60.95% of the stock is owned by hedge funds and other institutional investors.
AST SpaceMobile Company Profile
(
Get Free Report)
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.
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