AST SpaceMobile (NASDAQ:ASTS) Trading Up 2.9% – Should You Buy?

by · The Markets Daily

AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) was up 2.9% on Tuesday . The stock traded as high as $59.40 and last traded at $58.22. Approximately 9,141,934 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 12,089,847 shares. The stock had previously closed at $56.60.

Analyst Ratings Changes

ASTS has been the topic of a number of research analyst reports. Roth Capital reiterated a “buy” rating on shares of AST SpaceMobile in a research report on Tuesday, August 12th. UBS Group cut shares of AST SpaceMobile from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $62.00 to $43.00 in a research note on Tuesday, September 9th. Scotiabank cut shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $42.90 target price for the company. in a research report on Tuesday, October 7th. Zacks Research lowered shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Finally, William Blair started coverage on shares of AST SpaceMobile in a research note on Thursday, August 21st. They set a “market perform” rating for the company. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $45.27.

Get Our Latest Report on AST SpaceMobile

AST SpaceMobile Stock Performance

The company has a market capitalization of $20.87 billion, a PE ratio of -46.95 and a beta of 2.45. The stock’s fifty day simple moving average is $65.13 and its 200-day simple moving average is $49.91. The company has a debt-to-equity ratio of 0.43, a quick ratio of 9.48 and a current ratio of 9.56.

AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.27). AST SpaceMobile had a negative net margin of 1,639.59% and a negative return on equity of 27.76%. The firm had revenue of $14.74 million during the quarter, compared to analyst estimates of $22.04 million. During the same period in the prior year, the firm earned ($1.10) EPS. The business’s quarterly revenue was up 1236.4% on a year-over-year basis. As a group, equities analysts predict that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, CFO Andrew Martin Johnson sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $52.48, for a total value of $1,049,600.00. Following the sale, the chief financial officer directly owned 397,485 shares of the company’s stock, valued at approximately $20,860,012.80. This trade represents a 4.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Huiwen Yao sold 40,000 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $40.58, for a total transaction of $1,623,200.00. Following the transaction, the chief technology officer directly owned 4,750 shares of the company’s stock, valued at approximately $192,755. This represents a 89.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 30.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On AST SpaceMobile

A number of institutional investors have recently bought and sold shares of the stock. Rakuten Group Inc. acquired a new position in shares of AST SpaceMobile in the 1st quarter valued at $705,398,000. Vanguard Group Inc. raised its position in shares of AST SpaceMobile by 13.4% in the 3rd quarter. Vanguard Group Inc. now owns 19,919,888 shares of the company’s stock worth $977,668,000 after buying an additional 2,351,539 shares during the period. Clear Street Group Inc. purchased a new position in shares of AST SpaceMobile in the 3rd quarter worth $90,129,000. Voya Investment Management LLC boosted its holdings in AST SpaceMobile by 1,992.5% in the first quarter. Voya Investment Management LLC now owns 843,554 shares of the company’s stock valued at $19,182,000 after acquiring an additional 803,240 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in AST SpaceMobile during the first quarter valued at about $14,750,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

About AST SpaceMobile

(Get Free Report)

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.

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