AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 8.8% - Should You Buy?

Key Points

• AST SpaceMobile's stock price rose 8.8% to $45.10, with a significant trading volume of approximately 20.7 million shares, an increase of 77% from its average daily volume.
• Recent analyst reports indicate a mix of ratings, with Zacks upgrading the stock to "hold" while other firms like UBS have reduced their price targets, reflecting a consensus rating of "Hold".
• In insider trading, CTO Huiwen Yao sold 40,000 shares at an average price of $40.58, representing a notable decrease in ownership, while CFO Andrew Martin Johnson also sold 20,000 shares recently.

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s stock price rose 8.8% during trading on Friday . The stock traded as high as $46.08 and last traded at $45.10. Approximately 20,687,266 shares changed hands during mid-day trading, an increase of 77% from the average daily volume of 11,666,942 shares. The stock had previously closed at $41.44.

Wall Street Analyst Weigh In

ASTS has been the topic of a number of research analyst reports. William Blair assumed coverage on AST SpaceMobile in a report on Thursday, August 21st. They set a "market perform" rating on the stock. Zacks Research upgraded shares of AST SpaceMobile from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Bank of America assumed coverage on shares of AST SpaceMobile in a research report on Wednesday, June 25th. They issued a "neutral" rating and a $55.00 target price for the company. Roth Capital reiterated a "buy" rating on shares of AST SpaceMobile in a research report on Tuesday, August 12th. Finally, Scotiabank cut their target price on shares of AST SpaceMobile from $45.40 to $42.90 and set a "sector perform" rating for the company in a research report on Thursday, August 7th. Three investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $42.82.

AST SpaceMobile Stock Up 8.3%

The firm has a 50-day moving average of $48.38 and a two-hundred day moving average of $36.49. The company has a debt-to-equity ratio of 0.42, a quick ratio of 8.23 and a current ratio of 8.23.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last released its earnings results on Monday, August 11th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.22). The company had revenue of $1.16 million for the quarter, compared to analyst estimates of $6.37 million. AST SpaceMobile had a negative net margin of 7,213.90% and a negative return on equity of 26.81%. As a group, analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, CFO Andrew Martin Johnson sold 20,000 shares of the firm's stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $52.48, for a total value of $1,049,600.00. Following the sale, the chief financial officer directly owned 397,485 shares in the company, valued at $20,860,012.80. This trade represents a 4.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Huiwen Yao sold 40,000 shares of the firm's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total transaction of $1,623,200.00. Following the completion of the sale, the chief technology officer owned 4,750 shares in the company, valued at $192,755. This represents a 89.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 41.80% of the company's stock.

Institutional Investors Weigh In On AST SpaceMobile

Several large investors have recently made changes to their positions in ASTS. Rakuten Group Inc. acquired a new position in AST SpaceMobile in the first quarter valued at about $705,398,000. Alphabet Inc. acquired a new position in shares of AST SpaceMobile in the 1st quarter worth approximately $203,375,000. Northern Trust Corp grew its position in AST SpaceMobile by 2.7% during the 1st quarter. Northern Trust Corp now owns 1,266,315 shares of the company's stock worth $28,796,000 after acquiring an additional 33,259 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in AST SpaceMobile by 4.1% during the 1st quarter. Oppenheimer & Co. Inc. now owns 888,654 shares of the company's stock valued at $20,208,000 after purchasing an additional 34,591 shares in the last quarter. Finally, Voya Investment Management LLC raised 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 valued at $19,182,000 after purchasing an additional 803,240 shares during the last quarter. Institutional investors own 60.95% of the company's stock.

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.