Analysts Set AST SpaceMobile, Inc. (NASDAQ:ASTS) Target Price at $43.73

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the eight analysts that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $45.34.

A number of analysts have recently weighed in on the stock. 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. B. Riley reiterated a "buy" rating and issued a $44.00 price target (up previously from $36.00) on shares of AST SpaceMobile in a research note on Monday, June 16th. UBS Group upped their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Scotiabank reiterated a "sector perform" rating and issued a $45.40 target price on shares of AST SpaceMobile in a research report on Monday. Finally, Roth Capital started coverage on AST SpaceMobile in a research note on Thursday, April 10th. They set a "buy" rating and a $42.00 target price for the company.

Insider Transactions at AST SpaceMobile

In other news, CTO Huiwen Yao sold 55,000 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $26.82, for a total value of $1,475,100.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Shanti B. Gupta sold 10,000 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $41.84, for a total value of $418,400.00. Following the transaction, the chief operating officer now owns 305,667 shares in the company, valued at $12,789,107.28. The trade was a 3.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,250 shares of company stock worth $6,146,750. Company insiders own 34.15% of the company's stock.

Institutional Trading of AST SpaceMobile

Hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its holdings in AST SpaceMobile by 11.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock worth $26,728,000 after buying an additional 135,008 shares in the last quarter. Handelsbanken Fonder AB purchased a new stake in AST SpaceMobile in the fourth quarter worth $755,000. Wells Fargo & Company MN increased its holdings in 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 acquiring an additional 23,746 shares during the last quarter. Two Sigma Investments LP lifted its holdings in AST SpaceMobile by 117.5% during the fourth quarter. Two Sigma Investments LP now owns 51,874 shares of the company's stock valued at $1,095,000 after purchasing an additional 28,025 shares during the last quarter. Finally, Toronto Dominion Bank bought a new position in AST SpaceMobile in the 4th quarter worth approximately $4,220,000. Institutional investors own 60.95% of the company's stock.

AST SpaceMobile Stock Down 2.5%

Shares of NASDAQ:ASTS traded down $1.26 during midday trading on Tuesday, reaching $49.36. The company had a trading volume of 24,541,227 shares, compared to its average volume of 12,723,293. The stock has a market cap of $15.62 billion, a PE ratio of -24.80 and a beta of 2.02. The company has a quick ratio of 10.62, a current ratio of 10.62 and a debt-to-equity ratio of 0.60. AST SpaceMobile has a 1-year low of $10.17 and a 1-year high of $54.05. The business's 50 day moving average price is $30.02 and its 200 day moving average price is $26.48.

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

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.