AST SpaceMobile (NASDAQ:ASTS) Trading 5.3% Higher - Time to Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s share price traded up 5.3% on Monday . The stock traded as high as $48.40 and last traded at $47.99. 5,735,623 shares traded hands during trading, a decline of 55% from the average session volume of 12,784,491 shares. The stock had previously closed at $45.58.

Wall Street Analyst Weigh In

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

AST SpaceMobile Stock 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 company has a market capitalization of $16.18 billion, a P/E ratio of -25.69 and a beta of 2.27. The business's fifty day simple moving average is $34.93 and its 200-day simple moving average is $28.21.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.03). The company had revenue of $0.72 million during 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%. As a group, equities analysts anticipate that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Transactions at AST SpaceMobile

In other news, President Scott Wisniewski sold 50,000 shares of the business's stock in a transaction dated 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 sale, the president directly owned 545,595 shares in the company, valued at $19,450,461.75. The trade was a 8.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Shanti B. Gupta sold 10,000 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $41.84, for a total transaction of $418,400.00. Following the completion of the sale, the chief operating officer owned 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 have sold a total of 184,250 shares of company stock worth $6,146,750 in the last three months. Insiders own 34.15% of the company's stock.

Institutional Trading of AST SpaceMobile

A number of large investors have recently made changes to their positions in ASTS. Public Employees Retirement System of Ohio purchased a new position in shares of AST SpaceMobile during the 2nd quarter worth about $2,501,000. Yarbrough Capital LLC boosted its stake in shares of AST SpaceMobile by 82.1% during the 2nd quarter. Yarbrough Capital LLC now owns 77,633 shares of the company's stock worth $3,628,000 after purchasing an additional 35,000 shares during the period. Sowell Financial Services LLC boosted its stake in shares of AST SpaceMobile by 16.9% during the 2nd quarter. Sowell Financial Services LLC now owns 11,077 shares of the company's stock worth $518,000 after purchasing an additional 1,599 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of AST SpaceMobile by 2.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 16,641 shares of the company's stock worth $759,000 after purchasing an additional 392 shares during the period. Finally, Signal Advisors Wealth LLC purchased a new position in shares of AST SpaceMobile during the 2nd quarter worth about $287,000. 60.95% of the stock is currently owned by 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.