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

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) hit a new 52-week high during trading on Thursday . The stock traded as high as $56.88 and last traded at $55.22, with a volume of 5480791 shares. The stock had previously closed at $52.63.

Analyst Ratings Changes

ASTS has been the topic of several recent research reports. 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 target price on the stock. Roth Capital initiated coverage on shares of AST SpaceMobile in a research report on Thursday, April 10th. They set a "buy" rating and a $42.00 target price on the stock. Oppenheimer started coverage on shares of AST SpaceMobile in a research report on Monday, May 5th. They set a "market perform" rating on the stock. B. Riley reiterated a "buy" rating and set a $44.00 price target (up from $36.00) on shares of AST SpaceMobile in a report on Monday, June 16th. Finally, Scotiabank restated a "sector perform" rating and issued a $45.40 target price on shares of AST SpaceMobile in a research note on Monday, June 23rd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $45.34.

AST SpaceMobile Price Performance

The stock has a market cap of $18.35 billion, a price-to-earnings ratio of -29.14 and a beta of 2.27. The company has a quick ratio of 10.62, a current ratio of 10.62 and a debt-to-equity ratio of 0.60. The stock's 50 day moving average price is $37.74 and its two-hundred day moving average price is $29.32.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (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 company had revenue of $0.72 million during the quarter, compared to analyst estimates of $3.85 million. Equities research analysts forecast that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, President Scott Wisniewski sold 50,000 shares of the business'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 sale, the president directly owned 545,595 shares of the company's stock, valued at approximately $19,450,461.75. The trade was a 8.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Shanti B. Gupta sold 15,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $36.08, for a total transaction of $541,200.00. Following the completion of the sale, the chief operating officer directly owned 315,667 shares in the company, valued at $11,389,265.36. This trade represents a 4.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 184,250 shares of company stock valued at $6,146,750 over the last ninety days. Company insiders own 41.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sunbelt Securities Inc. boosted its stake in AST SpaceMobile by 61.9% during the 1st quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company's stock worth $30,000 after purchasing an additional 505 shares during the period. GAMMA Investing LLC boosted its stake in shares of AST SpaceMobile by 388.7% during the 1st quarter. GAMMA Investing LLC now owns 1,559 shares of the company's stock worth $35,000 after purchasing an additional 1,240 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of AST SpaceMobile during the 4th quarter worth about $37,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of AST SpaceMobile in the first quarter worth approximately $41,000. Finally, Close Asset Management Ltd raised its holdings in AST SpaceMobile by 72.4% in the first quarter. Close Asset Management Ltd now owns 1,810 shares of the company's stock valued at $41,000 after buying an additional 760 shares during the period. Institutional investors and hedge funds 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.