AST SpaceMobile (NASDAQ:ASTS) Shares Gap Down - What's Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $45.94, but opened at $43.75. AST SpaceMobile shares last traded at $47.99, with a volume of 4,264,567 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ASTS shares. Roth Capital started coverage on shares of AST SpaceMobile in a research note on Thursday, April 10th. They issued a "buy" rating and a $42.00 price target on the stock. Bank of America initiated coverage on shares of AST SpaceMobile in a research report on Wednesday. They set a "neutral" rating and a $55.00 target price on the stock. Oppenheimer initiated 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 reissued a "buy" rating and set a $44.00 target price (up from $36.00) on shares of AST SpaceMobile in a research report on Monday, June 16th. Finally, Scotiabank reissued a "sector perform" rating and set a $45.40 target price on shares of AST SpaceMobile in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $45.34.

AST SpaceMobile Trading Up 1.3%

The company has a market capitalization of $16.02 billion, a price-to-earnings ratio of -25.44 and a beta of 2.02. The company has a 50-day moving average price of $30.02 and a 200-day moving average price of $26.48. The company has a quick ratio of 10.62, a current ratio of 10.62 and a debt-to-equity ratio of 0.60.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its quarterly 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). The business had revenue of $0.72 million during the quarter, compared to analyst estimates of $3.85 million. AST SpaceMobile had a negative net margin of 7,033.22% and a negative return on equity of 23.56%. Research analysts predict that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Insider Activity

In related news, President Scott Wisniewski sold 50,000 shares of AST SpaceMobile stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $35.65, for a total transaction of $1,782,500.00. Following the sale, the president now directly owns 545,595 shares of the company's stock, valued at $19,450,461.75. This trade represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Huiwen Yao sold 55,000 shares of AST SpaceMobile stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $26.82, for a total value of $1,475,100.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 184,250 shares of company stock valued at $6,146,750. 34.15% of the stock is owned by insiders.

Institutional Investors Weigh In On AST SpaceMobile

A number of institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC grew its position in AST SpaceMobile by 1,992.5% during the first quarter. Voya Investment Management LLC now owns 843,554 shares of the company's stock worth $19,182,000 after buying an additional 803,240 shares in the last quarter. Strs Ohio acquired a new stake in AST SpaceMobile during the first quarter worth about $168,000. Belpointe Asset Management LLC acquired a new stake in AST SpaceMobile during the first quarter worth about $900,000. Intech Investment Management LLC grew its position in AST SpaceMobile by 36.2% during the first quarter. Intech Investment Management LLC now owns 84,069 shares of the company's stock worth $1,912,000 after buying an additional 22,358 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in AST SpaceMobile by 18.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 325,621 shares of the company's stock worth $7,405,000 after buying an additional 49,811 shares in the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.

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.