AST SpaceMobile (NASDAQ:ASTS) Sets New 1-Year High - What's Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $54.05 and last traded at $53.22, with a volume of 19981971 shares traded. The stock had previously closed at $50.20.

Analysts Set New Price Targets

Several research firms recently issued reports on ASTS. Bank of America began coverage on shares of AST SpaceMobile in a research report on Wednesday. They set a "neutral" rating and a $55.00 price objective for the company. Scotiabank restated a "sector perform" rating and set a $45.40 price objective on shares of AST SpaceMobile in a research report on Monday, June 23rd. Oppenheimer began coverage on shares of AST SpaceMobile in a research report on Monday, May 5th. They set a "market perform" rating for the company. Cantor Fitzgerald restated an "overweight" rating and set a $30.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Finally, UBS Group increased their target price on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $45.34.

AST SpaceMobile Trading Down 2.5%

The company has a debt-to-equity ratio of 0.60, a current ratio of 10.62 and a quick ratio of 10.62. The company has a market cap of $15.62 billion, a PE ratio of -24.80 and a beta of 2.02. The company's 50 day simple moving average is $30.54 and its two-hundred day simple moving average is $26.68.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.20) EPS 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 business had revenue of $0.72 million during the quarter, compared to analysts' expectations of $3.85 million. As a group, sell-side analysts anticipate that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Insider Activity

In other news, President Scott Wisniewski sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $35.65, for a total value of $1,782,500.00. Following the completion of the transaction, the president now owns 545,595 shares of the company's stock, valued at approximately $19,450,461.75. This trade represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 transaction of $1,475,100.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 184,250 shares of company stock valued at $6,146,750. 34.15% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ASTS. Rhumbline Advisers lifted its stake in AST SpaceMobile by 2.0% in the fourth quarter. Rhumbline Advisers now owns 216,718 shares of the company's stock worth $4,573,000 after acquiring an additional 4,168 shares during the last quarter. New York State Common Retirement Fund lifted its stake in AST SpaceMobile by 17.1% in the fourth quarter. New York State Common Retirement Fund now owns 42,367 shares of the company's stock worth $894,000 after acquiring an additional 6,200 shares during the last quarter. Handelsbanken Fonder AB purchased a new position in AST SpaceMobile in the fourth quarter worth approximately $755,000. Bank of New York Mellon Corp raised its holdings in AST SpaceMobile by 57.6% during the fourth quarter. Bank of New York Mellon Corp now owns 641,678 shares of the company's stock worth $13,539,000 after purchasing an additional 234,517 shares in the last quarter. Finally, SRS Capital Advisors Inc. raised its holdings in AST SpaceMobile by 554.5% during the fourth quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company's stock worth $73,000 after purchasing an additional 2,950 shares in the last quarter. Hedge funds and other institutional investors 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.