AST SpaceMobile (NASDAQ:ASTS) Trading 2.4% Higher - What's Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s stock price rose 2.4% on Tuesday . The stock traded as high as $52.01 and last traded at $51.39. Approximately 7,330,306 shares changed hands during trading, a decline of 41% from the average daily volume of 12,484,473 shares. The stock had previously closed at $50.20.

Analysts Set New Price Targets

ASTS has been the subject of several recent research reports. B. Riley reissued a "buy" rating and issued a $44.00 price objective (up from $36.00) on shares of AST SpaceMobile in a research note on Monday, June 16th. Oppenheimer initiated coverage on shares of AST SpaceMobile in a research note on Monday, May 5th. They issued a "market perform" rating on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 target price on shares of AST SpaceMobile in a report on Tuesday, March 4th. UBS Group increased their price target on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Finally, Bank of America initiated coverage on shares of AST SpaceMobile in a report on Wednesday. They set a "neutral" rating and a $55.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.34.

AST SpaceMobile Stock Down 6.1%

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 firm's 50-day simple moving average is $29.48 and its 200 day simple moving average is $26.31. The stock has a market capitalization of $15.82 billion, a P/E ratio of -25.11 and a beta of 2.02.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last posted its earnings results 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). AST SpaceMobile had a negative return on equity of 23.56% and a negative net margin of 7,033.22%. The company had revenue of $0.72 million for the quarter, compared to the consensus estimate of $3.85 million. As a group, research analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Insider Activity

In other AST SpaceMobile news, CTO Huiwen Yao sold 55,000 shares of the business's stock in a transaction on 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 SEC, which is available through the SEC website. Also, COO Shanti B. Gupta sold 15,000 shares of the business's stock in a transaction 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 transaction, the chief operating officer now owns 315,667 shares of the company's stock, valued at $11,389,265.36. This represents a 4.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 184,250 shares of company stock valued at $6,146,750 over the last quarter. Company insiders own 34.15% of the company's stock.

Institutional Investors Weigh In On AST SpaceMobile

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Rakuten Group Inc. purchased a new stake in AST SpaceMobile during the 1st quarter valued at $705,398,000. Alphabet Inc. acquired a new stake in shares of AST SpaceMobile during the first quarter worth $203,375,000. Vanguard Group Inc. boosted its position in AST SpaceMobile by 49.4% in the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock valued at $316,233,000 after buying an additional 4,955,941 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in AST SpaceMobile during the fourth quarter valued at $59,523,000. Finally, Voya Investment Management LLC boosted its position in AST SpaceMobile by 1,992.5% in the 1st quarter. Voya Investment Management LLC now owns 843,554 shares of the company's stock worth $19,182,000 after purchasing an additional 803,240 shares in the last quarter. 60.95% of the stock is owned by institutional investors.

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.