AST SpaceMobile (NASDAQ:ASTS) Given New $65.00 Price Target at Barclays

Key Points

• Barclays raised its price target for AST SpaceMobile to $65 from $60 but kept an underweight rating, a target that implies about a 32.6% downside from the stock's current level.
• Analyst consensus is a "Reduce" with an average price target of $64.60; ratings mix: 2 Buys, 6 Holds and 3 Sells.
• In the most recent quarter AST reported a big revenue beat ($54.31M, +2731% YoY) but missed on EPS (‑$0.26) and remains unprofitable; shares trade near $96.46 with a 52‑week range of $19.67–$129.89.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) had its price target upped by analysts at Barclays from $60.00 to $65.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. Barclays's price target would suggest a potential downside of 32.61% from the company's current price.

Several other analysts also recently commented on the stock. UBS Group lifted their target price on shares of AST SpaceMobile from $43.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, March 4th. B. Riley Financial reduced their target price on shares of AST SpaceMobile from $105.00 to $95.00 and set a "neutral" rating for the company in a report on Friday, February 13th. Zacks Research raised shares of AST SpaceMobile from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 4th. Scotiabank downgraded shares of AST SpaceMobile from a "sector perform" rating to a "sector underperform" rating and set a $45.60 target price for the company. in a report on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AST SpaceMobile in a report on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $64.60.

AST SpaceMobile Stock Performance

Shares of ASTS stock opened at $96.46 on Thursday. The company has a market capitalization of $36.85 billion, a price-to-earnings ratio of -73.08 and a beta of 2.81. The company has a debt-to-equity ratio of 0.92, a quick ratio of 16.27 and a current ratio of 16.35. The company has a 50-day simple moving average of $91.20 and a 200 day simple moving average of $81.36. AST SpaceMobile has a 52 week low of $19.67 and a 52 week high of $129.89.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its earnings results on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.08). The company had revenue of $54.31 million for the quarter, compared to the consensus estimate of $39.53 million. AST SpaceMobile had a negative return on equity of 23.02% and a negative net margin of 482.16%.The firm's revenue for the quarter was up 2731.3% on a year-over-year basis. On average, sell-side analysts predict that AST SpaceMobile will post -0.4 earnings per share for the current year.

Insider Activity at AST SpaceMobile

In other news, CTO Huiwen Yao sold 40,000 shares of the business's stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $88.88, for a total value of $3,555,200.00. Following the completion of the transaction, the chief technology officer directly owned 4,750 shares in the company, valued at approximately $422,180. The trade was a 89.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 30.90% of the company's stock.

Hedge Funds Weigh In On AST SpaceMobile

Several hedge funds and other institutional investors have recently made changes to their positions in ASTS. AQR Capital Management LLC raised its position in shares of AST SpaceMobile by 11.8% in the 1st quarter. AQR Capital Management LLC now owns 34,548 shares of the company's stock valued at $786,000 after buying an additional 3,642 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of AST SpaceMobile by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,764 shares of the company's stock valued at $1,814,000 after buying an additional 3,515 shares in the last quarter. Millennium Management LLC raised its position in shares of AST SpaceMobile by 16.1% in the 1st quarter. Millennium Management LLC now owns 467,626 shares of the company's stock valued at $10,634,000 after buying an additional 64,989 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of AST SpaceMobile by 18.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 325,621 shares of the company's stock valued at $7,405,000 after buying an additional 49,811 shares in the last quarter. Finally, Strs Ohio acquired a new position in shares of AST SpaceMobile in the 1st quarter valued at approximately $168,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

AST SpaceMobile Company Profile

AST SpaceMobile is a U.S.-based aerospace company developing a space-based cellular broadband network designed to connect standard mobile phones and other devices directly to satellites. The company's core proposition is “space-to-cell” service: operating a constellation of low-Earth-orbit (LEO) satellites equipped with large, high-power phased-array antennas to provide wide-area mobile broadband without requiring users to buy specialized terminals or handset modifications.

AST SpaceMobile designs, builds and operates satellite payloads and supporting ground infrastructure.

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