AST SpaceMobile (NASDAQ:ASTS) Trading 1.7% Higher - Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s stock price shot up 1.7% during trading on Thursday . The company traded as high as $48.32 and last traded at $46.50. 3,505,347 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 12,706,876 shares. The stock had previously closed at $45.71.

Analysts Set New Price Targets

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

AST SpaceMobile Stock Performance

The stock has a fifty day moving average of $32.88 and a 200-day moving average of $27.41. The company has a quick ratio of 10.62, a current ratio of 10.62 and a debt-to-equity ratio of 0.60. The stock has a market cap of $14.52 billion, a PE ratio of -23.05 and a beta of 2.27.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last released its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.03). AST SpaceMobile had a negative net margin of 7,033.22% and a negative return on equity of 23.56%. The company had revenue of $0.72 million during the quarter, compared to analyst estimates of $3.85 million. On average, equities analysts forecast that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Insider Activity

In other AST SpaceMobile news, President Scott Wisniewski sold 50,000 shares of AST SpaceMobile stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $35.65, for a total value of $1,782,500.00. Following the sale, the president owned 545,595 shares of the company's stock, valued at approximately $19,450,461.75. The trade was a 8.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Huiwen Yao sold 4,250 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $34.60, for a total value of $147,050.00. Following the completion of the sale, the chief technology officer directly owned 20,750 shares of the company's stock, 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. Insiders have sold a total of 184,250 shares of company stock valued at $6,146,750 over the last quarter. Corporate insiders own 34.15% of the company's stock.

Institutional Investors Weigh In On AST SpaceMobile

Several institutional investors have recently made changes to their positions in ASTS. Voya Investment Management LLC increased its holdings in shares of 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 in the last quarter. Strs Ohio acquired a new stake in shares of AST SpaceMobile during the 1st quarter valued at approximately $168,000. Belpointe Asset Management LLC purchased a new stake in shares of AST SpaceMobile during the 1st quarter worth approximately $900,000. Intech Investment Management LLC grew its holdings in shares of AST SpaceMobile by 36.2% in the 1st quarter. Intech Investment Management LLC now owns 84,069 shares of the company's stock worth $1,912,000 after acquiring an additional 22,358 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of AST SpaceMobile by 18.1% in 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 acquiring an additional 49,811 shares during the period. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

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.