AST SpaceMobile (NASDAQ:ASTS) Trading 1.5% Higher - Time to Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) shares rose 1.5% during mid-day trading on Monday . The stock traded as high as $60.95 and last traded at $58.87. Approximately 5,487,969 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 12,902,532 shares. The stock had previously closed at $57.98.

Analyst Upgrades and Downgrades

ASTS has been the subject of several recent analyst reports. B. Riley reiterated a "buy" rating and set a $44.00 price objective (up from $36.00) on shares of AST SpaceMobile in a research note on Monday, June 16th. Scotiabank reaffirmed a "sector perform" rating and set a $45.40 price target on shares of AST SpaceMobile in a research note on Monday, June 23rd. Roth Capital initiated coverage on shares of AST SpaceMobile in a research note on Thursday, April 10th. They set a "buy" rating and a $42.00 price objective on the stock. Oppenheimer assumed coverage on AST SpaceMobile in a research report on Monday, May 5th. They set a "market perform" rating on the stock. Finally, Bank of America assumed coverage on AST SpaceMobile in a research report on Wednesday, June 25th. They set a "neutral" rating and a $55.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $45.34.

AST SpaceMobile Trading Down 2.3%

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 business has a 50 day moving average price of $37.74 and a 200 day moving average price of $29.32. The company has a market capitalization of $17.94 billion, a P/E ratio of -28.48 and a beta of 2.27.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The firm had revenue of $0.72 million during the quarter, compared to the consensus estimate of $3.85 million. AST SpaceMobile had a negative net margin of 7,033.22% and a negative return on equity of 23.56%. Analysts anticipate that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Insider Buying and Selling

In related news, COO Shanti B. Gupta sold 10,000 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $41.84, for a total value of $418,400.00. Following the completion of the transaction, the chief operating officer owned 305,667 shares of the company's stock, valued at approximately $12,789,107.28. This trade represents a 3.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Huiwen Yao sold 4,250 shares of AST SpaceMobile stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $34.60, for a total transaction of $147,050.00. Following the completion of the transaction, the chief technology officer directly owned 20,750 shares in the company, valued at $717,950. This represents a 17.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 184,250 shares of company stock worth $6,146,750. 41.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ASTS. Sunbelt Securities Inc. grew its position in shares of AST SpaceMobile by 61.9% during the 1st quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company's stock worth $30,000 after buying an additional 505 shares during the period. GAMMA Investing LLC grew its stake in shares of AST SpaceMobile by 388.7% during the first quarter. GAMMA Investing LLC now owns 1,559 shares of the company's stock worth $35,000 after buying an additional 1,240 shares during the last quarter. Summit Securities Group LLC bought a new position in shares of AST SpaceMobile during the fourth quarter worth about $37,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of AST SpaceMobile during the 1st quarter worth approximately $41,000. Finally, Close Asset Management Ltd raised its position in shares of AST SpaceMobile by 72.4% during the first quarter. Close Asset Management Ltd now owns 1,810 shares of the company's stock worth $41,000 after purchasing an additional 760 shares during the period. Institutional investors own 60.95% of the company's stock.

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.

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