AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 10% – Should You Buy?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTSGet Free Report) rose 10% during mid-day trading on Monday . The stock traded as high as $84.94 and last traded at $82.55. Approximately 33,252,142 shares traded hands during trading, an increase of 111% from the average daily volume of 15,770,774 shares. The stock had previously closed at $75.05.

Trending Headlines about AST SpaceMobile

Here are the key news stories impacting AST SpaceMobile this week:

Wall Street Analysts Forecast Growth

Several brokerages have commented on ASTS. Wall Street Zen downgraded shares of AST SpaceMobile from a “sell” rating to a “strong sell” rating in a report on Wednesday, April 15th. Barclays raised their price target on shares of AST SpaceMobile from $60.00 to $65.00 and gave the company an “underweight” rating in a report on Thursday, April 9th. Zacks Research raised shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Roth Mkm reissued a “buy” rating and issued a $108.00 price target on shares of AST SpaceMobile in a report on Tuesday. Finally, UBS Group dropped their price objective on shares of AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $79.45.

Read Our Latest Stock Analysis on ASTS

AST SpaceMobile Price Performance

The company has a current ratio of 18.47, a quick ratio of 16.27 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $28.58 billion, a P/E ratio of -42.03 and a beta of 2.60. The business’s fifty day moving average price is $85.27 and its 200-day moving average price is $82.89.

AST SpaceMobile (NASDAQ:ASTSGet Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.43). The company had revenue of $14.74 million for the quarter, compared to the consensus estimate of $39.01 million. AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.The business’s revenue was up 1952.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.20) earnings per share. As a group, sell-side analysts predict that AST SpaceMobile, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Activity

In other AST SpaceMobile news, CTO Huiwen Yao sold 40,000 shares of the company’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $88.88, for a total transaction of $3,555,200.00. Following the completion of the sale, the chief technology officer directly owned 4,750 shares in the company, valued at $422,180. This represents a 89.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Hiroshi Mikitani sold 1,350,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $86.22, for a total value of $116,397,000.00. Following the completion of the sale, the insider owned 27,980,155 shares of the company’s stock, valued at $2,412,448,964.10. The trade was a 4.60% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 3,080,000 shares of company stock valued at $274,452,000. Company insiders own 20.89% of the company’s stock.

Hedge Funds Weigh In On AST SpaceMobile

Hedge funds and other institutional investors have recently modified their holdings of the stock. Oppenheimer & Co. Inc. boosted its stake in AST SpaceMobile by 48.0% during the third quarter. Oppenheimer & Co. Inc. now owns 532,960 shares of the company’s stock worth $26,158,000 after acquiring an additional 172,759 shares in the last quarter. Mutual Advisors LLC bought a new stake in AST SpaceMobile during the third quarter worth about $1,882,000. KPP Advisory Services LLC bought a new stake in AST SpaceMobile during the fourth quarter worth about $1,649,000. M&T Bank Corp boosted its stake in AST SpaceMobile by 1,062.9% during the fourth quarter. M&T Bank Corp now owns 77,994 shares of the company’s stock worth $5,665,000 after acquiring an additional 71,287 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in AST SpaceMobile by 28.0% during the third quarter. Jones Financial Companies Lllp now owns 31,580 shares of the company’s stock worth $1,550,000 after acquiring an additional 6,901 shares in the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Company Profile

(Get Free Report)

AST SpaceMobile is a U.S.-based aerospace company developing a space-based cellular broadband network designed to connect standard mobile phones and other devices directly to satellites. The company’s core proposition is “space-to-cell” service: operating a constellation of low-Earth-orbit (LEO) satellites equipped with large, high-power phased-array antennas to provide wide-area mobile broadband without requiring users to buy specialized terminals or handset modifications.

AST SpaceMobile designs, builds and operates satellite payloads and supporting ground infrastructure.

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