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Insider Buying: AST SpaceMobile (NASDAQ:ASTS) Director Purchases 625 Shares of Stock
AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) Director Keith Larson bought 625 shares of the business's stock in a transaction on Wednesday, December 24th. The stock was purchased at an average cost of $80.00 per share, for a total transaction of $50,000.00. Following the transaction, the director owned 2,015 shares of the company's stock, valued at $161,200. This trade represents a 44.96% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of ASTS traded down $0.48 during midday trading on Monday, hitting $71.47. 13,915,091 shares of the stock were exchanged, compared to its average volume of 12,289,898. AST SpaceMobile, Inc. has a 52-week low of $17.50 and a 52-week high of $102.79. The company has a debt-to-equity ratio of 0.43, a quick ratio of 9.48 and a current ratio of 9.56. The stock has a fifty day simple moving average of $68.78 and a 200 day simple moving average of $58.12. The firm has a market cap of $26.23 billion, a P/E ratio of -57.64 and a beta of 2.76.
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The Biggest Satellite Ever Just Reached Low-Earth Orbit, And It's Coming For Starlink
SpaceX may have launched 10,000 Starlink satellites into orbit, but now it's got big competition. As in literally, physically big. Texas-based AST SpaceMobile has just launched the largest satellite ever put into low-Earth orbit. The BlueBird 6 comes in at a full 2,400 square feet, or about the size of a three-bedroom apartment. The startup believes that bigger is better, because that very size allows it to do something even Starlink can't: provide direct 5G service to your normal old cell phone. The company hopes to put around 50 more into orbit next year, and then open up to customers shortly thereafter.
Basically, the idea is to make it so you never lose cell signal, anywhere, ever, to the chagrin of horror movie fans everywhere. Starlink, with its puny little satellites, can't actually hear the signal from your phone, which is why it requires its own equipment to relay your signal up to space. By contrast, a massive antenna allows BlueBird to pick up the weak signal your phone puts out, which it then digitally cleans up and sends to one of the company's dishes on the ground. The company then relays your signal to your normal cell service; it currently counts AT&T, Verizon, and over 50 others as partners. The integration is meant to be seamless, so your phone will automatically switch to the satellite once it loses contact with the tower. According to AST, that'll get you 120 Mbps, which is pretty good.
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