AST SpaceMobile, Inc. (NASDAQ:ASTS) Receives $45.34 Consensus Target Price from Analysts

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eight ratings firms that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $45.34.

A number of analysts have issued reports on the company. Oppenheimer started coverage on AST SpaceMobile in a research report on Monday, May 5th. They issued a "market perform" rating on the stock. Bank of America initiated coverage on shares of AST SpaceMobile in a research report on Wednesday, June 25th. They set a "neutral" rating and a $55.00 price objective for the company. B. Riley restated a "buy" rating and set a $44.00 target price (up previously from $36.00) on shares of AST SpaceMobile in a research note on Monday, June 16th. Roth Capital began coverage on AST SpaceMobile in a report on Thursday, April 10th. They issued a "buy" rating and a $42.00 price target for the company. Finally, Scotiabank reissued a "sector perform" rating and set a $45.40 price objective on shares of AST SpaceMobile in a report on Monday, June 23rd.

Insider Activity

In other news, CTO Huiwen Yao sold 4,250 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $34.60, for a total transaction of $147,050.00. Following the transaction, the chief technology officer directly owned 20,750 shares of the company's stock, valued at $717,950. This represents a 17.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Scott Wisniewski sold 50,000 shares of the business's 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 directly owned 545,595 shares in the company, valued at approximately $19,450,461.75. This represents a 8.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 184,250 shares of company stock valued at $6,146,750 in the last three months. 34.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC raised its position in shares of AST SpaceMobile by 55.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 22,634 shares of the company's stock worth $1,058,000 after purchasing an additional 8,058 shares during the last quarter. Venture Visionary Partners LLC acquired a new position in shares of AST SpaceMobile in the second quarter worth $1,342,000. Signaturefd LLC lifted its position in shares of AST SpaceMobile by 25.2% in the second quarter. Signaturefd LLC now owns 1,826 shares of the company's stock valued at $85,000 after acquiring an additional 367 shares in the last quarter. ORG Partners LLC boosted its stake in shares of AST SpaceMobile by 37.7% during the second quarter. ORG Partners LLC now owns 2,995 shares of the company's stock valued at $135,000 after acquiring an additional 820 shares during the last quarter. Finally, MBE Wealth Management LLC increased its position in AST SpaceMobile by 6.5% during the 2nd quarter. MBE Wealth Management LLC now owns 47,155 shares of the company's stock worth $2,204,000 after purchasing an additional 2,866 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company's stock.

AST SpaceMobile Trading Up 0.9%

Shares of ASTS stock traded up $0.53 on Friday, reaching $57.98. 7,950,915 shares of the company were exchanged, compared to its average volume of 12,930,708. The business has a 50-day moving average price of $37.74 and a 200 day moving average price of $29.21. AST SpaceMobile has a 1 year low of $12.37 and a 1 year high of $58.08. 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 (NASDAQ:ASTS - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.03). The business had revenue of $0.72 million for the quarter, compared to analyst estimates of $3.85 million. AST SpaceMobile had a negative return on equity of 23.56% and a negative net margin of 7,033.22%. On average, 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.