AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) shares were up 1.7% on Monday . The company traded as high as $23.47 and last traded at $23.46. Approximately 2,365,111 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 11,979,897 shares. The stock had previously closed at $23.07.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the stock. Cantor Fitzgerald restated an "overweight" rating and issued a $30.00 price objective on shares of AST SpaceMobile in a report on Tuesday, March 4th. Roth Capital began coverage on AST SpaceMobile in a report on Thursday, April 10th. They issued a "buy" rating and a $42.00 target price on the stock. UBS Group raised their price target on AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Scotiabank lowered their price objective on AST SpaceMobile from $47.90 to $45.40 and set a "sector outperform" rating for the company in a research report on Tuesday, May 13th. Finally, Oppenheimer assumed coverage on AST SpaceMobile in a report on Monday, May 5th. They issued a "market perform" rating on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, AST SpaceMobile has an average rating of "Moderate Buy" and an average price target of $42.40.
Read Our Latest Analysis on AST SpaceMobile
AST SpaceMobile Stock Performance
The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The stock has a market cap of $9.08 billion, a price-to-earnings ratio of -13.53 and a beta of 2.05. The stock's 50 day moving average is $23.86 and its two-hundred day moving average is $24.55.
AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its 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 firm had revenue of $0.72 million for the quarter, compared to analyst estimates of $3.85 million. Analysts anticipate that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.
Insider Transactions at AST SpaceMobile
In other news, CTO Huiwen Yao sold 55,000 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $26.82, for a total value of $1,475,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Julio A. Torres sold 20,000 shares of AST SpaceMobile stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $30.73, for a total transaction of $614,600.00. Following the completion of the sale, the director now directly owns 52,628 shares in the company, valued at approximately $1,617,258.44. The trade was a 27.54% decrease in their position. The disclosure for this sale can be found here. Company insiders own 34.15% of the company's stock.
Institutional Investors Weigh In On AST SpaceMobile
A number of institutional investors have recently added to or reduced their stakes in ASTS. Strs Ohio acquired a new stake in shares of AST SpaceMobile in the 1st quarter valued at approximately $168,000. Belpointe Asset Management LLC purchased a new position in AST SpaceMobile in the first quarter worth $900,000. Intech Investment Management LLC lifted its holdings in AST SpaceMobile by 36.2% in the first quarter. Intech Investment Management LLC now owns 84,069 shares of the company's stock valued at $1,912,000 after acquiring an additional 22,358 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of AST SpaceMobile by 18.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 325,621 shares of the company's stock worth $7,405,000 after purchasing an additional 49,811 shares in the last quarter. Finally, Optimize Financial Inc boosted its position in shares of AST SpaceMobile by 15.9% in the 1st quarter. Optimize Financial Inc now owns 41,484 shares of the company's stock worth $943,000 after buying an additional 5,676 shares in the last quarter. Hedge funds and other institutional investors own 60.95% of the company's stock.
About AST SpaceMobile
(
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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