AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s share price traded up 1.7% during trading on Thursday . The company traded as high as $53.38 and last traded at $50.80. 6,259,264 shares changed hands during trading, a decline of 50% from the average session volume of 12,596,628 shares. The stock had previously closed at $49.97.
Wall Street Analyst Weigh In
A number of analysts recently commented on the company. Scotiabank reiterated a "sector perform" rating and set a $45.40 price target on shares of AST SpaceMobile in a report on Monday, June 23rd. Cantor Fitzgerald reiterated an "overweight" rating and set a $30.00 price target on shares of AST SpaceMobile in a report on Tuesday, March 4th. B. Riley restated a "buy" rating and issued a $44.00 target price (up from $36.00) on shares of AST SpaceMobile in a research note on Monday, June 16th. Roth Capital initiated coverage on AST SpaceMobile in a research note on Thursday, April 10th. They issued a "buy" rating and a $42.00 target price on the stock. Finally, Oppenheimer initiated coverage on AST SpaceMobile in a research note on Monday, May 5th. They issued a "market perform" rating on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $45.34.
Read Our Latest Stock Analysis on ASTS
AST SpaceMobile Stock Performance
The company has a 50 day simple moving average of $30.54 and a 200-day simple moving average of $26.68. The company has a debt-to-equity ratio of 0.60, a current ratio of 10.62 and a quick ratio of 10.62.
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 for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The company had revenue of $0.72 million during the quarter, compared to analysts' expectations of $3.85 million. AST SpaceMobile had a negative net margin of 7,033.22% and a negative return on equity of 23.56%. Research analysts anticipate that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.
Insider Activity
In related news, 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 transaction, the chief operating officer now directly owns 305,667 shares in the company, valued at $12,789,107.28. The trade was a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. Over the last three months, insiders sold 184,250 shares of company stock worth $6,146,750. 41.80% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On AST SpaceMobile
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sunbelt Securities Inc. grew its position in AST SpaceMobile by 61.9% during the first quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company's stock worth $30,000 after buying an additional 505 shares in the last quarter. Xponance Inc. increased its position in shares of AST SpaceMobile by 5.9% during the 1st quarter. Xponance Inc. now owns 10,244 shares of the company's stock valued at $233,000 after purchasing an additional 568 shares during the last quarter. Close Asset Management Ltd raised its holdings in shares of AST SpaceMobile by 72.4% during the 1st quarter. Close Asset Management Ltd now owns 1,810 shares of the company's stock valued at $41,000 after buying an additional 760 shares in the last quarter. KBC Group NV lifted its position in AST SpaceMobile by 15.6% in the 1st quarter. KBC Group NV now owns 7,525 shares of the company's stock worth $171,000 after buying an additional 1,016 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in AST SpaceMobile by 106.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock worth $53,000 after buying an additional 1,222 shares in the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.
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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