AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s share price traded up 1.7% on Thursday . The stock traded as high as $53.38 and last traded at $50.80. 6,259,264 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 12,596,628 shares. The stock had previously closed at $49.97.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the stock. Roth Capital assumed coverage on shares of AST SpaceMobile in a report on Thursday, April 10th. They issued a "buy" rating and a $42.00 price target on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $30.00 target price on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Oppenheimer started coverage on shares of AST SpaceMobile in a research report on Monday, May 5th. They set a "market perform" rating on the stock. B. Riley restated a "buy" rating and set a $44.00 target price (up previously from $36.00) on shares of AST SpaceMobile in a research report on Monday, June 16th. Finally, Bank of America started coverage on shares of AST SpaceMobile in a research report on Wednesday. They set a "neutral" rating and a $55.00 target price on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, AST SpaceMobile presently has an average rating of "Moderate Buy" and a consensus price target of $45.34.
Read Our Latest Analysis on ASTS
AST SpaceMobile Price Performance
The company has a current ratio of 10.62, a quick 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 is $30.02 and its 200-day moving average is $26.48.
AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The firm 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 research analysts predict that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.
Insider Buying and Selling
In related news, CTO Huiwen Yao sold 55,000 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $26.82, for a total transaction of $1,475,100.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Shanti B. Gupta sold 15,000 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now owns 315,667 shares in the company, valued at $11,389,265.36. This represents a 4.54% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,250 shares of company stock worth $6,146,750. Corporate insiders own 34.15% of the company's stock.
Hedge Funds Weigh In On AST SpaceMobile
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. lifted its stake in AST SpaceMobile by 11.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock valued at $26,728,000 after purchasing an additional 135,008 shares during the last quarter. Handelsbanken Fonder AB bought a new position in AST SpaceMobile in the 4th quarter valued at approximately $755,000. Wells Fargo & Company MN lifted its stake in AST SpaceMobile by 25.2% in the 4th quarter. Wells Fargo & Company MN now owns 117,822 shares of the company's stock valued at $2,486,000 after purchasing an additional 23,746 shares during the last quarter. Two Sigma Investments LP lifted its stake in AST SpaceMobile by 117.5% in the 4th quarter. Two Sigma Investments LP now owns 51,874 shares of the company's stock valued at $1,095,000 after purchasing an additional 28,025 shares during the last quarter. Finally, Toronto Dominion Bank bought a new position in AST SpaceMobile in the 4th quarter valued at approximately $4,220,000. Institutional investors own 60.95% of the company's stock.
AST SpaceMobile Company Profile
(
Get Free Report)
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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