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MIDLAND, TX—Shanti B. Gupta, the Chief Operating Officer of AST SpaceMobile, Inc. (NASDAQ:ASTS), sold 15,000 shares of the company’s Class A common stock on June 9, according to a recent SEC filing. The sale comes as the stock shows significant momentum, with InvestingPro data indicating a remarkable 310% return over the past year and the stock currently trading near its 52-week high of $39.08. The shares were sold at a price of $36.08 each, totaling approximately $541,200. Following this transaction, Gupta retains ownership of 315,667 shares in the company. InvestingPro analysis suggests the stock is currently overvalued, with technical indicators pointing to overbought territory. Discover 14 additional exclusive ProTips and comprehensive valuation metrics for ASTS with an InvestingPro subscription.
In other recent news, AST SpaceMobile reported its Q1 2025 earnings, revealing mixed results. The company achieved an earnings per share (EPS) of -$0.20, surpassing the forecasted -$0.26, but its revenue fell short at $7.18 million compared to the expected $10.94 million. AST SpaceMobile ended the quarter with $874.5 million in cash, a significant increase from the previous quarter. Additionally, the company announced its inclusion in the Russell 1000 Index, a move that reflects its growing market capitalization and is expected to enhance visibility among investors.
AST SpaceMobile also updated its corporate governance, allowing for the removal of directors by written consent following approval from stockholders. Meanwhile, Scotiabank (TSX:BNS) maintained its Sector Outperform rating for the company, suggesting potential collaboration with Amazon (NASDAQ:AMZN)’s Project Kuiper. Cantor Fitzgerald upheld an Overweight rating with a $30 price target, noting the company’s progress in satellite deployments and new bookings in the Defense sector.
The company has secured a partnership with Blue Origin for launching up to 45 BB2 satellites, with options for an additional 15, highlighting its strategic alliances in the space industry. AST SpaceMobile’s recent developments, including these partnerships and financial updates, indicate ongoing efforts to expand its satellite capabilities and business footprint.
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