AST SpaceMobile (NASDAQ:ASTS) Trading Up 1.5% – Should You Buy?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) were up 1.5% during mid-day trading on Tuesday . The stock traded as high as $90.95 and last traded at $88.10. Approximately 21,323,492 shares changed hands during trading, an increase of 30% from the average daily volume of 16,359,256 shares. The stock had previously closed at $86.83.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ASTS shares. Zacks Research raised shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Wall Street Zen lowered shares of AST SpaceMobile from a “sell” rating to a “strong sell” rating in a research note on Wednesday, April 15th. UBS Group lowered their target price on shares of AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Roth Mkm reissued a “buy” rating and set a $108.00 target price on shares of AST SpaceMobile in a research note on Tuesday, May 12th. Finally, Deutsche Bank Aktiengesellschaft set a $117.00 price target on shares of AST SpaceMobile in a research note on Wednesday, April 15th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, AST SpaceMobile currently has a consensus rating of “Reduce” and an average target price of $79.45.

AST SpaceMobile Price Performance

The stock has a market capitalization of $33.65 billion, a PE ratio of -49.48 and a beta of 2.60. The stock’s 50 day moving average is $84.51 and its two-hundred day moving average is $83.05. The company has a debt-to-equity ratio of 1.11, a quick ratio of 18.37 and a current ratio of 18.47.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings results on Monday, May 11th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.43). The company had revenue of $14.74 million during the quarter, compared to analysts’ expectations of $39.01 million. AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The company’s quarterly revenue was up 1952.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.20) earnings per share. On average, equities analysts anticipate that AST SpaceMobile, Inc. will post -1.47 EPS for the current fiscal year.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, Director Julio A. Torres sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $76.34, for a total value of $1,145,100.00. Following the transaction, the director directly owned 43,239 shares of the company’s stock, valued at $3,300,865.26. This trade represents a 25.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Hiroshi Mikitani sold 1,690,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $91.42, for a total transaction of $154,499,800.00. Following the completion of the transaction, the insider directly owned 29,330,155 shares in the company, valued at $2,681,362,770.10. This trade represents a 5.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 3,095,000 shares of company stock valued at $275,597,100. 20.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ASTS. REAP Financial Group LLC purchased a new position in AST SpaceMobile in the 3rd quarter worth approximately $25,000. Crewe Advisors LLC acquired a new stake in AST SpaceMobile in the 4th quarter valued at approximately $25,000. Laurel Wealth Advisors LLC acquired a new stake in AST SpaceMobile in the 4th quarter valued at approximately $25,000. Cornerstone Planning Group LLC increased its holdings in AST SpaceMobile by 16,350.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 329 shares of the company’s stock valued at $27,000 after purchasing an additional 327 shares during the last quarter. Finally, Byrne Asset Management LLC acquired a new stake in AST SpaceMobile in the 4th quarter valued at approximately $29,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

About AST SpaceMobile

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.