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AST SpaceMobile, Inc. (NASDAQ:ASTS) Given Average Rating of "Moderate Buy" by Analysts

AST SpaceMobile logo with Computer and Technology background

Key Points

  • AST SpaceMobile, Inc. has received a consensus rating of "Moderate Buy" from analysts, with three hold recommendations and five buy recommendations, reflecting positive sentiment towards the stock.
  • The average 1-year price target among analysts is $44.99, indicating potential upside in the stock's price based on analyst forecasts.
  • Insider trading activity has seen significant sales, with the CTO and President selling shares, representing a 17% and 8.39% decrease of their holdings, respectively, which may raise questions about insider confidence.
  • Want stock alerts on AST SpaceMobile? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eight ratings firms that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $44.9857.

A number of research analysts have recently issued reports on the company. Scotiabank reduced their price objective on AST SpaceMobile from $45.40 to $42.90 and set a "sector perform" rating on the stock in a research note on Thursday, August 7th. Roth Capital reaffirmed a "buy" rating on shares of AST SpaceMobile in a research note on Tuesday. B. Riley reaffirmed a "buy" rating and set a $44.00 price objective (up from $36.00) on shares of AST SpaceMobile in a research note on Monday, June 16th. Bank of America assumed coverage on AST SpaceMobile in a research note on Wednesday, June 25th. They set a "neutral" rating and a $55.00 price objective on the stock. Finally, Oppenheimer began coverage on AST SpaceMobile in a research note on Monday, May 5th. They set a "market perform" rating on the stock.

Read Our Latest Stock Report on ASTS

Insider Transactions at AST SpaceMobile

In other news, CTO Huiwen Yao sold 4,250 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $34.60, for a total transaction of $147,050.00. Following the completion of the sale, the chief technology officer directly owned 20,750 shares in the company, valued at approximately $717,950. This represents a 17.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Scott Wisniewski sold 50,000 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $35.65, for a total transaction of $1,782,500.00. Following the sale, the president owned 545,595 shares of the company's stock, valued at approximately $19,450,461.75. This represents a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 184,250 shares of company stock worth $6,146,750. Company insiders own 41.80% of the company's stock.

Institutional Trading of AST SpaceMobile

Several institutional investors and hedge funds have recently bought and sold shares of ASTS. Wells Fargo & Company MN lifted its holdings in AST SpaceMobile by 25.2% in the fourth quarter. Wells Fargo & Company MN now owns 117,822 shares of the company's stock worth $2,486,000 after buying an additional 23,746 shares during the period. Invesco Ltd. increased its stake in shares of AST SpaceMobile by 34.0% during the fourth quarter. Invesco Ltd. now owns 70,667 shares of the company's stock valued at $1,491,000 after purchasing an additional 17,925 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of AST SpaceMobile during the fourth quarter valued at approximately $1,350,000. Sterling Capital Management LLC increased its stake in shares of AST SpaceMobile by 815.6% during the fourth quarter. Sterling Capital Management LLC now owns 4,221 shares of the company's stock valued at $89,000 after purchasing an additional 3,760 shares in the last quarter. Finally, Mariner LLC increased its stake in shares of AST SpaceMobile by 15.6% during the fourth quarter. Mariner LLC now owns 29,251 shares of the company's stock valued at $617,000 after purchasing an additional 3,957 shares in the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

AST SpaceMobile Stock Up 8.4%

Shares of NASDAQ:ASTS opened at $49.76 on Wednesday. The stock's 50-day moving average price is $47.25 and its 200-day moving average price is $32.94. AST SpaceMobile has a 12-month low of $17.50 and a 12-month high of $60.95. The stock has a market capitalization of $15.75 billion, a P/E ratio of -26.33 and a beta of 2.33. The company has a current ratio of 10.62, a quick ratio of 10.62 and a debt-to-equity ratio of 0.60.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.22). AST SpaceMobile had a negative net margin of 7,213.90% and a negative return on equity of 32.12%. The company had revenue of $1.16 million for the quarter, compared to the consensus estimate of $6.37 million. On average, equities analysts anticipate that AST SpaceMobile will post -0.4 earnings per share for the current year.

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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Analyst Recommendations for AST SpaceMobile (NASDAQ:ASTS)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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