AST SpaceMobile (NASDAQ:ASTS) Trading Up 1.4% - Time to 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 traded up 1.4% during mid-day trading on Friday . The stock traded as high as $43.02 and last traded at $42.45. 3,093,638 shares changed hands during trading, a decline of 73% from the average session volume of 11,599,500 shares. The stock had previously closed at $41.86.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. William Blair began coverage on AST SpaceMobile in a research note on Thursday, August 21st. They set a "market perform" rating on the stock. Bank of America began coverage on AST SpaceMobile in a report on Wednesday, June 25th. They set a "neutral" rating and a $55.00 price target for the company. UBS Group cut AST SpaceMobile from a "buy" rating to a "neutral" rating and cut their price target for the company from $62.00 to $43.00 in a report on Tuesday. Scotiabank cut their price target on AST SpaceMobile from $45.40 to $42.90 and set a "sector perform" rating for the company in a report on Thursday, August 7th. Finally, B. Riley restated a "buy" rating and set a $44.00 price target (up previously from $36.00) on shares of AST SpaceMobile in a report on Monday, June 16th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $42.82.

AST SpaceMobile Trading Down 9.5%

The stock has a market cap of $13.23 billion, a PE ratio of -19.53 and a beta of 2.43. 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 fifty day moving average price of $49.12 and a 200 day moving average price of $35.76.

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

Insiders Place Their Bets

In related news, CFO Andrew Martin Johnson sold 20,000 shares of the business's stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $52.48, for a total transaction of $1,049,600.00. Following the completion of the transaction, the chief financial officer owned 397,485 shares in the company, valued at $20,860,012.80. The trade was a 4.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Shanti B. Gupta sold 10,000 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $41.84, for a total value of $418,400.00. Following the transaction, the chief operating officer owned 305,667 shares of the company's stock, valued at approximately $12,789,107.28. The trade was a 3.17% decrease in their position. The disclosure for this sale can be found here. 41.80% of the stock is owned by insiders.

Hedge Funds Weigh In On AST SpaceMobile

A number of large investors have recently bought and sold shares of ASTS. Rakuten Group Inc. purchased a new position in AST SpaceMobile during the 1st quarter valued at $705,398,000. Alphabet Inc. bought a new stake in AST SpaceMobile during the 1st quarter valued at $203,375,000. Voya Investment Management LLC raised its position in AST SpaceMobile by 1,992.5% during the 1st quarter. Voya Investment Management LLC now owns 843,554 shares of the company's stock valued at $19,182,000 after purchasing an additional 803,240 shares in the last quarter. Jump Financial LLC bought a new stake in AST SpaceMobile during the 1st quarter valued at $14,750,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in AST SpaceMobile during the 2nd quarter valued at $21,754,000. 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.