AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $28.69, but opened at $28.05. AST SpaceMobile shares last traded at $28.42, with a volume of 3,481,159 shares trading hands.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on ASTS shares. Scotiabank lowered their target price on shares of AST SpaceMobile from $47.90 to $45.40 and set a "sector outperform" rating for the company in a research note on Tuesday, May 13th. Oppenheimer started coverage on shares of AST SpaceMobile in a research note on Monday, May 5th. They set a "market perform" rating for the company. Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 target price on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Roth Capital started coverage on shares of AST SpaceMobile in a research note on Thursday, April 10th. They set a "buy" rating and a $42.00 target price for the company. Finally, UBS Group boosted their target price on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $42.40.
Check Out Our Latest Research Report on ASTS
AST SpaceMobile Stock Up 1.1%
The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $24.21 and a 200-day moving average price of $24.62. The firm has a market cap of $9.87 billion, a P/E ratio of -14.71 and a beta of 2.02.
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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.03). The firm had revenue of $0.72 million during the quarter, compared to analyst estimates of $3.85 million. On average, equities analysts forecast that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.
Insider Activity at AST SpaceMobile
In related news, CTO Huiwen Yao sold 55,000 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $26.82, for a total transaction of $1,475,100.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Julio A. Torres sold 20,000 shares of the firm's stock in a transaction dated 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 approximately $1,617,258.44. The trade was a 27.54% decrease in their position. The disclosure for this sale can be found here. 34.15% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On AST SpaceMobile
A number of institutional investors have recently added to or reduced their stakes in ASTS. Rakuten Group Inc. acquired a new stake in AST SpaceMobile in the first quarter worth about $705,398,000. Alphabet Inc. acquired a new stake in AST SpaceMobile in the first quarter worth about $203,375,000. Vanguard Group Inc. boosted its holdings in AST SpaceMobile by 49.4% in the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock worth $316,233,000 after acquiring an additional 4,955,941 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in AST SpaceMobile in the fourth quarter worth about $59,523,000. Finally, Jump Financial LLC acquired a new stake in AST SpaceMobile in the first quarter worth about $14,750,000. Institutional investors own 60.95% of the company's stock.
About AST SpaceMobile
(
Get Free Report)
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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