AST SpaceMobile (NASDAQ:ASTS) Trading 3.3% Higher - Still a Buy?

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

Wall Street Analysts Forecast Growth

ASTS has been the subject of a number of recent analyst reports. Scotiabank reiterated a "sector perform" rating and issued a $45.40 price target on shares of AST SpaceMobile in a research report on Monday. UBS Group boosted their price target on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 price objective on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Bank of America assumed coverage on shares of AST SpaceMobile in a research note on Wednesday. They set a "neutral" rating and a $55.00 price target for the company. Finally, B. Riley reiterated a "buy" rating and issued a $44.00 target price (up previously from $36.00) on shares of AST SpaceMobile in a research note on Monday, June 16th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, AST SpaceMobile has a consensus rating of "Moderate Buy" and an average target price of $45.34.

AST SpaceMobile Trading Up 1.3%

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

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

Insider Buying and Selling at AST SpaceMobile

In other news, CTO Huiwen Yao sold 55,000 shares of the business's 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Shanti B. Gupta sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $41.84, for a total transaction of $418,400.00. Following the transaction, the chief operating officer now owns 305,667 shares in the company, valued at approximately $12,789,107.28. This trade represents a 3.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 184,250 shares of company stock valued at $6,146,750 in the last three months. 34.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Sunbelt Securities Inc. increased its holdings 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 in the last quarter. GAMMA Investing LLC lifted its stake in AST SpaceMobile by 388.7% in the 1st quarter. GAMMA Investing LLC now owns 1,559 shares of the company's stock valued at $35,000 after buying an additional 1,240 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of AST SpaceMobile during the fourth quarter valued at $37,000. Financial Gravity Asset Management Inc. purchased a new stake in shares of AST SpaceMobile during the first quarter worth about $41,000. Finally, Close Asset Management Ltd grew its stake in AST SpaceMobile by 72.4% in the 1st quarter. Close Asset Management Ltd now owns 1,810 shares of the company's stock worth $41,000 after acquiring an additional 760 shares during the period. Institutional investors and hedge funds own 60.95% of the company's stock.

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.