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Scott Wisniewski, President of AST SpaceMobile Inc. (NASDAQ:ASTS), recently sold 35,871 shares of the company’s Class A common stock, totaling approximately $1.02 million. The shares were sold on March 17 at a weighted average price of $28.35 per share, with individual transaction prices ranging from $28.25 to $28.50. The sale comes as ASTS shows remarkable momentum, with the stock delivering an 843% return over the past year. According to InvestingPro data, analyst price targets for ASTS range from $15 to $64.
Additionally, on March 15, Wisniewski disposed of 23,643 shares at $28.15 per share to cover a tax liability associated with the vesting of Restricted Stock Units. This transaction totaled $665,550 and was conducted as a payment of tax liability by withholding securities.
Following these transactions, Wisniewski holds 653,146 shares of AST SpaceMobile.
In other recent news, AST SpaceMobile reported its fourth-quarter 2024 earnings, surpassing analysts’ expectations with a narrower-than-expected loss. The company achieved an earnings per share (EPS) of -$0.18, beating the forecast of -$0.21, while revenue reached $4.42 million, exceeding the anticipated $3.22 million. UBS analyst Chris Schoell raised the price target for AST SpaceMobile shares to $38.00 from $31.00, maintaining a Buy rating due to the company’s recent progress, including successful satellite tests and new carrier agreements. AST SpaceMobile has expanded its agreements to approximately 50 carriers, covering nearly 3 billion subscribers. The company has also secured launch capacity for 60 satellites for the years 2025 and 2026. Management plans to produce six satellites per month in the second half of 2025. UBS anticipates that AST SpaceMobile will achieve continuous coverage in its target areas by 2026, projecting revenue of approximately $465 million and EBITDA of $173 million for that year. These developments have increased confidence in the company’s scalability and execution of its plans.
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