AST SpaceMobile (NASDAQ:ASTS) Shares Up 3.3% - Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s share price rose 3.3% on Monday . The stock traded as high as $48.59 and last traded at $47.46. Approximately 8,184,514 shares changed hands during trading, a decline of 34% from the average daily volume of 12,452,954 shares. The stock had previously closed at $45.94.

Analysts Set New Price Targets

ASTS has been the topic of a number of research analyst reports. Oppenheimer began coverage on AST SpaceMobile in a report on Monday, May 5th. They set a "market perform" rating on the stock. Scotiabank reiterated a "sector perform" rating and set a $45.40 price target on shares of AST SpaceMobile in a report on Monday. UBS Group boosted their target price on AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 price target on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Finally, Roth Capital started coverage on AST SpaceMobile in a research report on Thursday, April 10th. They set a "buy" rating and a $42.00 price objective for the company. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, AST SpaceMobile currently has an average rating of "Moderate Buy" and a consensus price target of $43.73.

AST SpaceMobile Price Performance

The company has a debt-to-equity ratio of 0.60, a quick ratio of 10.62 and a current ratio of 10.62. The business has a fifty day simple moving average of $27.77 and a 200-day simple moving average of $25.79. The stock has a market capitalization of $15.36 billion, a P/E ratio of -24.27 and a beta of 2.02.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The company had revenue of $0.72 million for the quarter, compared to the consensus estimate of $3.85 million. AST SpaceMobile had a negative net margin of 7,033.22% and a negative return on equity of 23.56%. Sell-side analysts expect that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CTO Huiwen Yao sold 4,250 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $34.60, for a total transaction of $147,050.00. Following the completion of the transaction, the chief technology officer now owns 20,750 shares of the company's stock, valued at approximately $717,950. The trade was a 17.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Shanti B. Gupta sold 15,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $36.08, for a total value of $541,200.00. Following the completion of the sale, the chief operating officer now owns 315,667 shares of the company's stock, valued at $11,389,265.36. The trade was a 4.54% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 184,250 shares of company stock valued at $6,146,750. 41.80% of the stock is owned by insiders.

Institutional Investors Weigh In On AST SpaceMobile

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Voya Investment Management LLC lifted its holdings in shares of AST SpaceMobile by 1,992.5% during the first 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. Strs Ohio bought a new position in shares of AST SpaceMobile during the first quarter valued at $168,000. Belpointe Asset Management LLC bought a new position in shares of AST SpaceMobile during the first quarter valued at $900,000. Intech Investment Management LLC lifted its stake in shares of AST SpaceMobile by 36.2% in the 1st quarter. Intech Investment Management LLC now owns 84,069 shares of the company's stock worth $1,912,000 after purchasing an additional 22,358 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings 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 valued at $7,405,000 after purchasing an additional 49,811 shares during the period. 60.95% of the stock is owned by hedge funds and other institutional investors.

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.

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