AST SpaceMobile (NASDAQ:ASTS) Trading 5.8% Higher – What’s Next?

by · The Markets Daily

AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report)’s share price traded up 5.8% during mid-day trading on Wednesday . The stock traded as high as $87.78 and last traded at $84.66. 21,922,630 shares changed hands during trading, an increase of 42% from the average session volume of 15,491,115 shares. The stock had previously closed at $80.01.

Key Headlines Impacting AST SpaceMobile

Here are the key news stories impacting AST SpaceMobile this week:

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $117.00 price target on shares of AST SpaceMobile in a report on Wednesday, April 15th. Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a report on Friday, March 27th. Scotiabank lowered shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 price objective for the company. in a research note on Wednesday, January 7th. Barclays lifted their price objective on shares of AST SpaceMobile from $60.00 to $65.00 and gave the company an “underweight” rating in a research note on Thursday, April 9th. Finally, Wall Street Zen lowered shares of AST SpaceMobile from a “sell” rating to a “strong sell” rating in a research note on Wednesday, April 15th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $82.51.

View Our Latest Research Report on ASTS

AST SpaceMobile Stock Performance

The stock has a market cap of $29.19 billion, a P/E ratio of -57.88 and a beta of 2.81. The company has a fifty day moving average price of $87.84 and a 200 day moving average price of $83.69. The company has a debt-to-equity ratio of 0.92, a current ratio of 16.35 and a quick ratio of 16.27.

AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.08). The business had revenue of $54.31 million for the quarter, compared to the consensus estimate of $39.53 million. AST SpaceMobile had a negative net margin of 482.16% and a negative return on equity of 23.02%. The business’s revenue was up 2731.3% on a year-over-year basis. On average, equities analysts expect that AST SpaceMobile, Inc. will post -0.99 EPS for the current year.

Insiders Place Their Bets

In other AST SpaceMobile news, major shareholder Hiroshi Mikitani sold 1,350,000 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $86.22, for a total transaction of $116,397,000.00. Following the completion of the sale, the insider owned 27,980,155 shares in the company, valued at approximately $2,412,448,964.10. The trade was a 4.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Huiwen Yao sold 40,000 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $88.88, for a total transaction of $3,555,200.00. Following the sale, the chief technology officer owned 4,750 shares of the company’s stock, valued at $422,180. This trade represents a 89.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,080,000 shares of company stock valued at $274,452,000 in the last 90 days. 30.90% of the stock is currently owned by company insiders.

Institutional Trading of AST SpaceMobile

A number of hedge funds and other institutional investors have recently bought and sold shares of ASTS. AQR Capital Management LLC increased its stake in AST SpaceMobile by 11.8% during the 1st quarter. AQR Capital Management LLC now owns 34,548 shares of the company’s stock valued at $786,000 after purchasing an additional 3,642 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in AST SpaceMobile by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,764 shares of the company’s stock valued at $1,814,000 after purchasing an additional 3,515 shares in the last quarter. Millennium Management LLC increased its stake in AST SpaceMobile by 16.1% during the 1st quarter. Millennium Management LLC now owns 467,626 shares of the company’s stock valued at $10,634,000 after purchasing an additional 64,989 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in AST SpaceMobile by 18.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 325,621 shares of the company’s stock valued at $7,405,000 after purchasing an additional 49,811 shares in the last quarter. Finally, Strs Ohio bought a new stake in AST SpaceMobile during the 1st quarter valued at $168,000. Institutional investors own 60.95% of the company’s stock.

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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