AST SpaceMobile (NASDAQ:ASTS) Trading 1.7% Higher – Still a Buy?

by · The Markets Daily

AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) shares traded up 1.7% during trading on Friday . The stock traded as high as $75.14 and last traded at $73.92. 13,378,973 shares changed hands during trading, an increase of 11% from the average session volume of 12,044,881 shares. The stock had previously closed at $72.65.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ASTS. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AST SpaceMobile in a research report on Monday, November 24th. Roth Capital reaffirmed a “buy” rating on shares of AST SpaceMobile in a research note on Tuesday, August 12th. William Blair began coverage on shares of AST SpaceMobile in a report on Thursday, August 21st. They set a “market perform” rating on the stock. Zacks Research lowered shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. Finally, Scotiabank raised shares of AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $45.60 price target for the company in a research report on Monday, November 24th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $45.66.

Check Out Our Latest Report on AST SpaceMobile

AST SpaceMobile Price Performance

The firm has a 50 day simple moving average of $69.06 and a 200-day simple moving average of $52.91. The company has a quick ratio of 9.48, a current ratio of 9.56 and a debt-to-equity ratio of 0.43. The company has a market cap of $27.13 billion, a PE ratio of -59.61 and a beta of 2.76.

AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last released its quarterly earnings results on Monday, November 10th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.27). AST SpaceMobile had a negative net margin of 1,639.59% and a negative return on equity of 27.76%. The firm had revenue of $14.74 million for the quarter, compared to analysts’ expectations of $22.04 million. During the same period in the previous year, the company posted ($1.10) earnings per share. The business’s quarterly revenue was up 1236.4% compared to the same quarter last year. As a group, research analysts predict that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, CFO Andrew Martin Johnson sold 10,000 shares of AST SpaceMobile stock in a transaction on Wednesday, November 26th. The shares were sold at an average price of $56.00, for a total value of $560,000.00. Following the transaction, the chief financial officer directly owned 387,485 shares of the company’s stock, valued at approximately $21,699,160. The trade was a 2.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Adriana Cisneros purchased 750 shares of AST SpaceMobile stock in a transaction dated Thursday, November 20th. The shares were acquired at an average cost of $50.79 per share, for a total transaction of $38,092.50. Following the completion of the transaction, the director owned 784,077 shares of the company’s stock, valued at approximately $39,823,270.83. This represents a 0.10% increase in their position. The disclosure for this purchase is available in the SEC filing. 30.90% of the stock is owned by insiders.

Institutional Investors Weigh In On AST SpaceMobile

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rakuten Group Inc. purchased a new stake in shares of AST SpaceMobile during the first quarter worth about $705,398,000. Vanguard Group Inc. grew its position in AST SpaceMobile by 13.4% during the 3rd quarter. Vanguard Group Inc. now owns 19,919,888 shares of the company’s stock worth $977,668,000 after purchasing an additional 2,351,539 shares during the last quarter. Clear Street Group Inc. acquired a new position in AST SpaceMobile during the 3rd quarter valued at approximately $90,129,000. Voya Investment Management LLC raised its holdings in shares of AST SpaceMobile by 1,992.5% in the first quarter. Voya Investment Management LLC now owns 843,554 shares of the company’s stock worth $19,182,000 after buying an additional 803,240 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in shares of AST SpaceMobile during the first quarter worth $14,750,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

AST SpaceMobile Company Profile

(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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