AST SpaceMobile (NASDAQ:ASTS) Shares Up 1.4% - Still a Buy?

Key Points

• AST SpaceMobile (NASDAQ: ASTS) shares increased by 1.4% during mid-day trading, closing at $42.45 after reaching a high of $43.02.
• Recent analyst reports show a mix of sentiments, with four analysts giving a "Buy" rating and five a "Hold" rating, while the average price target is $45.98.
• Despite these positive signals, the company's latest earnings report showed an EPS of ($0.41), missing expectations, and revenue of $1.16 million compared to estimates of $6.37 million.

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) shares rose 1.4% on Friday . The stock traded as high as $43.02 and last traded at $42.45. Approximately 3,093,638 shares changed hands during trading, a decline of 73% from the average daily volume of 11,599,500 shares. The stock had previously closed at $41.86.

Wall Street Analyst Weigh In

ASTS has been the subject of several research reports. UBS Group boosted their price objective on shares of AST SpaceMobile from $38.00 to $62.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Roth Capital reissued a "buy" rating on shares of AST SpaceMobile in a report on Tuesday, August 12th. Zacks Research raised shares of AST SpaceMobile from a "strong sell" rating to a "hold" rating in a report on Monday, August 18th. B. Riley reiterated a "buy" rating and issued a $44.00 price target (up from $36.00) on shares of AST SpaceMobile in a research report on Monday, June 16th. Finally, Bank of America initiated coverage on shares of AST SpaceMobile in a research note on Wednesday, June 25th. They set a "neutral" rating and a $55.00 price target on the stock. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, AST SpaceMobile currently has an average rating of "Hold" and a consensus price target of $45.98.

AST SpaceMobile Stock Performance

The business's 50-day moving average price is $49.40 and its 200-day moving average price is $35.64. The company has a debt-to-equity ratio of 0.42, a quick ratio of 8.23 and a current ratio of 8.23. The stock has a market cap of $15.20 billion, a P/E ratio of -22.44 and a beta of 2.43.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.19) by ($0.22). The firm had revenue of $1.16 million during the quarter, compared to the consensus estimate of $6.37 million. AST SpaceMobile had a negative return on equity of 26.81% and a negative net margin of 7,213.90%. As a group, sell-side analysts expect that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Andrew Martin Johnson sold 20,000 shares of the company's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $52.48, for a total value of $1,049,600.00. Following the completion of the transaction, the chief financial officer owned 397,485 shares of the company's stock, valued at approximately $20,860,012.80. This represents a 4.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Shanti B. Gupta sold 15,000 shares of the company'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 completion of the transaction, the chief operating officer directly owned 315,667 shares of the company's stock, valued at $11,389,265.36. This represents a 4.54% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 149,250 shares of company stock worth $5,721,250. 34.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AST SpaceMobile

A number of hedge funds have recently made changes to their positions in ASTS. The Manufacturers Life Insurance Company lifted its position in shares of AST SpaceMobile by 2.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 84,406 shares of the company's stock worth $1,781,000 after buying an additional 2,006 shares in the last quarter. Northern Trust Corp lifted its position in shares of AST SpaceMobile by 8.8% in the fourth quarter. Northern Trust Corp now owns 1,233,056 shares of the company's stock worth $26,017,000 after buying an additional 100,153 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of AST SpaceMobile in the fourth quarter worth about $3,264,000. Baird Financial Group Inc. lifted its position in shares of AST SpaceMobile by 116.8% in the fourth quarter. Baird Financial Group Inc. now owns 29,600 shares of the company's stock worth $625,000 after buying an additional 15,950 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of AST SpaceMobile by 122.1% in the fourth quarter. Cetera Investment Advisers now owns 86,683 shares of the company's stock worth $1,829,000 after buying an additional 47,647 shares in the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

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.