AST SpaceMobile (NASDAQ:ASTS) Announces Earnings Results

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) posted its earnings results on Monday. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.03), Zacks reports.

AST SpaceMobile Stock Performance

Shares of NASDAQ ASTS traded up $1.40 during trading hours on Monday, hitting $27.16. 14,360,621 shares of the company's stock were exchanged, compared to its average volume of 12,804,707. The stock has a market capitalization of $8.60 billion, a price-to-earnings ratio of -12.81 and a beta of 2.05. The company's 50-day moving average price is $24.88 and its 200-day moving average price is $24.48. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. AST SpaceMobile has a 1-year low of $2.12 and a 1-year high of $39.08.

Insider Transactions at AST SpaceMobile

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $30.73, for a total value of $614,600.00. Following the sale, the director now directly owns 52,628 shares in the company, valued at $1,617,258.44. This trade represents a 27.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 34.15% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. UBS Group lifted their target price on AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Oppenheimer started coverage on shares of AST SpaceMobile in a report on Monday, May 5th. They issued a "market perform" rating for the company. Scotiabank restated an "outperform" rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. Roth Capital assumed coverage on AST SpaceMobile in a research note on Thursday, April 10th. They set a "buy" rating and a $42.00 price target for the company. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $30.00 target price on shares of AST SpaceMobile in a research note on Tuesday, March 4th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $42.82.

About AST SpaceMobile

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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