AST SpaceMobile, Inc. (NASDAQ:ASTS) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the seven analysts that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $43.73.

A number of research firms have issued reports on ASTS. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 price target on shares of AST SpaceMobile in a research report on Tuesday, March 4th. B. Riley reaffirmed a "buy" rating and issued a $44.00 price target (up previously from $36.00) on shares of AST SpaceMobile in a research report on Monday, June 16th. UBS Group increased their price target on AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Roth Capital began coverage on AST SpaceMobile in a research report on Thursday, April 10th. They issued a "buy" rating and a $42.00 price target on the stock. Finally, Oppenheimer began coverage on AST SpaceMobile in a research report on Monday, May 5th. They issued a "market perform" rating on the stock.

AST SpaceMobile Stock Performance

Shares of AST SpaceMobile stock opened at $50.20 on Tuesday. The business has a 50-day moving average of $28.32 and a 200 day moving average of $25.96. AST SpaceMobile has a 12 month low of $9.32 and a 12 month high of $50.41. The stock has a market capitalization of $15.89 billion, a price-to-earnings ratio of -25.23 and a beta of 2.02. The company has a debt-to-equity ratio of 0.60, a current ratio of 10.62 and a quick ratio of 10.62.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.03). The company had revenue of $0.72 million during the quarter, compared to analyst estimates of $3.85 million. AST SpaceMobile had a negative net margin of 7,033.22% and a negative return on equity of 23.56%. As a group, sell-side analysts forecast that AST SpaceMobile will post -0.4 earnings per share for the current year.

Insider Transactions at AST SpaceMobile

In other news, COO Shanti B. Gupta sold 10,000 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $41.84, for a total transaction of $418,400.00. Following the sale, the chief operating officer now owns 305,667 shares of the company's stock, valued at approximately $12,789,107.28. This trade represents a 3.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Huiwen Yao sold 55,000 shares of AST SpaceMobile stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $26.82, for a total value of $1,475,100.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,250 shares of company stock valued at $6,146,750. Corporate insiders own 41.80% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ASTS. Rakuten Group Inc. acquired a new position in AST SpaceMobile during the first quarter worth approximately $705,398,000. Alphabet Inc. acquired a new position in AST SpaceMobile during the first quarter worth approximately $203,375,000. Vanguard Group Inc. increased its position in AST SpaceMobile by 49.4% during the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock worth $316,233,000 after buying an additional 4,955,941 shares during the period. T. Rowe Price Investment Management Inc. acquired a new position in AST SpaceMobile during the fourth quarter worth approximately $59,523,000. Finally, Voya Investment Management LLC increased its position in AST SpaceMobile by 1,992.5% during the first quarter. Voya Investment Management LLC now owns 843,554 shares of the company's stock worth $19,182,000 after buying an additional 803,240 shares during the period. Institutional investors and hedge funds own 60.95% of the company's stock.

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.

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.