AST SpaceMobile, Inc. (NASDAQ:ASTS) Receives $42.40 Average PT from Analysts

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the seven analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $42.40.

Several equities analysts recently issued reports on the stock. Oppenheimer assumed coverage on shares of AST SpaceMobile in a research note on Monday, May 5th. They set a "market perform" rating on the stock. UBS Group increased their price objective on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Scotiabank lowered their price target on shares of AST SpaceMobile from $47.90 to $45.40 and set a "sector outperform" rating for the company in a report on Tuesday, May 13th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $30.00 price target on shares of AST SpaceMobile in a report on Tuesday, March 4th. Finally, Roth Capital began coverage on shares of AST SpaceMobile in a report on Thursday, April 10th. They set a "buy" rating and a $42.00 price objective for the company.

AST SpaceMobile Price Performance

Shares of NASDAQ ASTS traded down $0.35 on Friday, hitting $23.22. The company's stock had a trading volume of 9,361,242 shares, compared to its average volume of 12,030,950. AST SpaceMobile has a 12-month low of $7.56 and a 12-month high of $39.08. The company has a market capitalization of $7.35 billion, a price-to-earnings ratio of -10.95 and a beta of 2.05. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The stock has a 50 day moving average of $23.84 and a 200-day moving average of $24.55.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The business had revenue of $0.72 million for the quarter, compared to the consensus estimate of $3.85 million. As a group, research analysts predict that AST SpaceMobile will post -0.4 EPS for the current year.

Insiders Place Their Bets

In other AST SpaceMobile news, CTO Huiwen Yao sold 55,000 shares of the business's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $26.82, for a total value of $1,475,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Julio A. Torres sold 20,000 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $30.73, for a total transaction of $614,600.00. Following the sale, the director now directly owns 52,628 shares of the company's stock, valued at approximately $1,617,258.44. This represents a 27.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 34.15% of the company's stock.

Hedge Funds Weigh In On AST SpaceMobile

Several large investors have recently bought and sold shares of ASTS. Charles Schwab Investment Management Inc. raised its stake in shares of AST SpaceMobile by 11.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock valued at $26,728,000 after buying an additional 135,008 shares in the last quarter. Handelsbanken Fonder AB bought a new stake in shares of AST SpaceMobile in the 4th quarter worth about $755,000. Wells Fargo & Company MN grew its holdings in shares of AST SpaceMobile by 25.2% in the 4th quarter. Wells Fargo & Company MN now owns 117,822 shares of the company's stock worth $2,486,000 after purchasing an additional 23,746 shares during the last quarter. Van ECK Associates Corp increased its position in AST SpaceMobile by 150.1% in the 4th quarter. Van ECK Associates Corp now owns 258,747 shares of the company's stock valued at $5,460,000 after acquiring an additional 155,310 shares in the last quarter. Finally, Toronto Dominion Bank acquired a new stake in AST SpaceMobile in the 4th quarter valued at about $4,220,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

AST SpaceMobile Company Profile

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.