AST SpaceMobile (NASDAQ:ASTS) Shares Up 1.3% - Time to Buy?

Key Points

• AST SpaceMobile's stock increased by 1.3% during trading, with a trading volume significantly lower than its average, indicating decreased investor activity.
• Analysts have given AST SpaceMobile a consensus rating of "Moderate Buy" with varying price targets, including a high of $55.00 from Bank of America and a low of $42.00 from Roth Capital.
• Despite the positive market presence, the company reported a loss of ($0.20) EPS in its latest quarterly earnings, missing expectations and highlighting ongoing financial challenges.

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s share price shot up 1.3% during trading on Monday . The stock traded as high as $55.57 and last traded at $55.05. 3,239,073 shares traded hands during trading, a decline of 74% from the average session volume of 12,228,187 shares. The stock had previously closed at $54.34.

Analyst Ratings Changes

ASTS has been the topic of a number of analyst reports. Oppenheimer initiated coverage on shares of AST SpaceMobile in a research note on Monday, May 5th. They issued a "market perform" rating on the stock. Roth Capital assumed coverage on AST SpaceMobile in a research note on Thursday, April 10th. They issued a "buy" rating and a $42.00 price objective on the stock. Scotiabank restated a "sector perform" rating and set a $45.40 price target on shares of AST SpaceMobile in a report on Monday, June 23rd. Bank of America assumed coverage on AST SpaceMobile in a research note on Wednesday, June 25th. They set a "neutral" rating and a $55.00 price target on the stock. Finally, B. Riley reissued a "buy" rating and issued a $44.00 price target (up previously from $36.00) on shares of AST SpaceMobile in a report on Monday, June 16th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $45.34.

AST SpaceMobile Price Performance

The firm has a market capitalization of $17.10 billion, a PE ratio of -27.04 and a beta of 2.27. The stock has a 50-day moving average price of $40.83 and a 200 day moving average price of $30.51. 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) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.03). AST SpaceMobile had a negative return on equity of 23.56% and a negative net margin of 7,033.22%. The firm had revenue of $0.72 million for the quarter, compared to analysts' expectations of $3.85 million. Equities analysts forecast that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other AST SpaceMobile news, COO Shanti B. Gupta sold 15,000 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $36.08, for a total transaction of $541,200.00. Following the transaction, the chief operating officer owned 315,667 shares of the company's stock, valued at approximately $11,389,265.36. The trade was a 4.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Scott Wisniewski sold 50,000 shares of the company's stock in a transaction 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 directly owned 545,595 shares in the company, valued at approximately $19,450,461.75. This trade represents a 8.39% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 184,250 shares of company stock valued at $6,146,750. Insiders own 41.80% of the company's stock.

Institutional Investors Weigh In On AST SpaceMobile

Institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC increased its holdings in shares of AST SpaceMobile by 25.2% in the 2nd quarter. Signaturefd LLC now owns 1,826 shares of the company's stock valued at $85,000 after acquiring an additional 367 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of AST SpaceMobile by 2.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 16,641 shares of the company's stock valued at $759,000 after purchasing an additional 392 shares during the last quarter. Sunbelt Securities Inc. grew its stake in shares of AST SpaceMobile by 61.9% in the 1st quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company's stock valued at $30,000 after purchasing an additional 505 shares during the last quarter. waypoint wealth counsel lifted its holdings in shares of AST SpaceMobile by 3.5% in the 2nd quarter. waypoint wealth counsel now owns 16,746 shares of the company's stock valued at $783,000 after buying an additional 565 shares during the period. Finally, Xponance Inc. lifted its holdings in shares of AST SpaceMobile by 5.9% in the 1st quarter. Xponance Inc. now owns 10,244 shares of the company's stock valued at $233,000 after buying an additional 568 shares during the period. Hedge funds and other institutional investors own 60.95% of the company's stock.

About AST SpaceMobile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.