AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 6.3% - What's Next?

Key Points

• AST SpaceMobile shares rose 6.3% on Monday, reaching as high as $89.76 amid trading volume well above average. The stock last traded at $87.57, up from a prior close of $82.41.
• Analysts remain cautious overall, with a consensus rating of “Reduce” and an average price target of $81.33. Recent actions included downgrades from Deutsche Bank and a lowered target from UBS, though Roth Mkm reiterated a buy rating.
• The company’s latest earnings missed expectations, with EPS of -$0.66 versus an expected -$0.23 and revenue of $14.74 million versus $39.01 million expected. Despite that, revenue jumped 1,952.2% year over year, and AST SpaceMobile continues developing its space-based cellular broadband network.

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s stock price rose 6.3% on Monday . The company traded as high as $89.76 and last traded at $87.57. Approximately 23,594,127 shares were traded during mid-day trading, an increase of 29% from the average daily volume of 18,221,936 shares. The stock had previously closed at $82.41.

Analyst Ratings Changes

ASTS has been the subject of a number of recent analyst reports. William Blair reissued a "market perform" rating on shares of AST SpaceMobile in a research report on Friday, May 29th. UBS Group reduced their price target on shares of AST SpaceMobile from $85.00 to $80.00 and set a "neutral" rating for the company in a research report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft lowered shares of AST SpaceMobile from a "buy" rating to a "hold" rating and reduced their price target for the company from $117.00 to $106.00 in a research report on Friday, May 29th. Zacks Research raised shares of AST SpaceMobile from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 4th. Finally, Roth Mkm reaffirmed a "buy" rating and set a $108.00 price target on shares of AST SpaceMobile in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $81.33.

AST SpaceMobile Trading Up 6.3%

The stock has a 50 day moving average of $90.42 and a 200-day moving average of $88.15. The company has a market capitalization of $33.99 billion, a P/E ratio of -49.20 and a beta of 2.70. The company has a current ratio of 18.47, a quick ratio of 18.37 and a debt-to-equity ratio of 1.11.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.43). The company had revenue of $14.74 million for the quarter, compared to the consensus estimate of $39.01 million. AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The company's revenue was up 1952.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.20) earnings per share. On average, research analysts predict that AST SpaceMobile, Inc. will post -1.47 EPS for the current year.

Insiders Place Their Bets

In other AST SpaceMobile news, major shareholder Hiroshi Mikitani sold 1,690,000 shares of the company's stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $91.42, for a total value of $154,499,800.00. Following the completion of the transaction, the insider directly owned 29,330,155 shares in the company, valued at $2,681,362,770.10. This represents a 5.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Andrew Martin Johnson sold 45,809 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $93.81, for a total value of $4,297,342.29. Following the completion of the transaction, the chief financial officer owned 503,619 shares of the company's stock, valued at $47,244,498.39. The trade was a 8.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 3,185,809 shares of company stock valued at $284,200,492. 20.89% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Calton & Associates Inc. boosted its position in shares of AST SpaceMobile by 0.8% during the 4th quarter. Calton & Associates Inc. now owns 13,579 shares of the company's stock valued at $986,000 after acquiring an additional 104 shares during the last quarter. Investmark Advisory Group LLC boosted its position in shares of AST SpaceMobile by 2.7% during the 4th quarter. Investmark Advisory Group LLC now owns 4,645 shares of the company's stock valued at $337,000 after acquiring an additional 120 shares during the last quarter. ORG Partners LLC boosted its position in shares of AST SpaceMobile by 4.2% during the 4th quarter. ORG Partners LLC now owns 3,283 shares of the company's stock valued at $238,000 after acquiring an additional 133 shares during the last quarter. Atlantic Union Bankshares Corp boosted its position in shares of AST SpaceMobile by 18.2% during the 4th quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company's stock valued at $67,000 after acquiring an additional 142 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position in shares of AST SpaceMobile by 39.0% during the 4th quarter. Larson Financial Group LLC now owns 513 shares of the company's stock valued at $37,000 after acquiring an additional 144 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors.

About AST SpaceMobile

AST SpaceMobile is a U.S.-based aerospace company developing a space-based cellular broadband network designed to connect standard mobile phones and other devices directly to satellites. The company's core proposition is “space-to-cell” service: operating a constellation of low-Earth-orbit (LEO) satellites equipped with large, high-power phased-array antennas to provide wide-area mobile broadband without requiring users to buy specialized terminals or handset modifications.

AST SpaceMobile designs, builds and operates satellite payloads and supporting ground infrastructure.

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