AST SpaceMobile (NASDAQ:ASTS) Trading Up 10.3% - What's Next?

Key Points

• AST SpaceMobile's stock price surged 10.3% during trading, reaching a high of $92.07 before closing at $90.50.
• Analysts have varying opinions on the stock, with price targets ranging from $37.00 to $60.00, and an average target price of $45.27 reflecting a mixed outlook.
• The company reported a quarterly loss of ($0.41) EPS, significantly missing analysts' expectations, amid a revenue of only $1.16 million compared to anticipated $6.37 million.

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s stock price was up 10.3% during trading on Monday . The stock traded as high as $92.07 and last traded at $90.50. Approximately 13,112,376 shares traded hands during trading, an increase of 8% from the average daily volume of 12,177,766 shares. The stock had previously closed at $82.03.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. William Blair assumed coverage on AST SpaceMobile in a research report on Thursday, August 21st. They issued a "market perform" rating for the company. Barclays upped their target price on AST SpaceMobile from $37.00 to $60.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 1st. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AST SpaceMobile in a research report on Wednesday, October 8th. B. Riley reaffirmed a "buy" rating and issued a $44.00 target price (up previously from $36.00) on shares of AST SpaceMobile in a research report on Monday, June 16th. Finally, Scotiabank downgraded AST SpaceMobile from a "sector perform" rating to a "sector underperform" rating and set a $42.90 target price for the company. in a research report on Tuesday, October 7th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $45.27.

AST SpaceMobile Price Performance

The stock has a market cap of $32.45 billion, a PE ratio of -47.88 and a beta of 2.41. The company has a debt-to-equity ratio of 0.42, a current ratio of 8.23 and a quick ratio of 8.23. The business has a fifty day moving average of $50.82 and a 200 day moving average of $40.18.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.22). The business had revenue of $1.16 million during the quarter, compared to analysts' expectations of $6.37 million. AST SpaceMobile had a negative net margin of 7,213.90% and a negative return on equity of 26.81%. Sell-side analysts anticipate that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Insider Transactions at AST SpaceMobile

In related news, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total value of $1,623,200.00. Following the completion of the transaction, the chief technology officer owned 4,750 shares of the company's stock, valued at approximately $192,755. This represents a 89.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Andrew Martin Johnson sold 20,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer directly owned 397,485 shares of the company's stock, valued at $20,860,012.80. This represents a 4.79% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 41.80% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ASTS. GAMMA Investing LLC increased its position in shares of AST SpaceMobile by 21.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,355 shares of the company's stock valued at $67,000 after purchasing an additional 243 shares during the period. Flagship Private Wealth LLC increased its position in shares of AST SpaceMobile by 2.8% during the 2nd quarter. Flagship Private Wealth LLC now owns 9,106 shares of the company's stock valued at $426,000 after purchasing an additional 250 shares during the period. SBI Securities Co. Ltd. increased its position in shares of AST SpaceMobile by 0.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 56,619 shares of the company's stock valued at $2,646,000 after purchasing an additional 268 shares during the period. Signaturefd LLC increased its position in shares of AST SpaceMobile by 25.2% during the 2nd quarter. Signaturefd LLC now owns 1,826 shares of the company's stock valued at $85,000 after purchasing an additional 367 shares during the period. Finally, Tsfg LLC increased its position in shares of AST SpaceMobile by 37.0% during the 2nd quarter. Tsfg LLC now owns 1,370 shares of the company's stock valued at $64,000 after purchasing an additional 370 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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