Analysts Set AST SpaceMobile, Inc. (NASDAQ:ASTS) Price Target at $81.33

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) have been assigned a consensus recommendation of “Reduce” from the eleven research firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $81.3250.

Several equities research analysts have recently weighed in on ASTS shares. Zacks Research raised AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Roth Mkm reiterated a “buy” rating and issued a $108.00 price target on shares of AST SpaceMobile in a research note on Tuesday, May 12th. Barclays boosted their price target on AST SpaceMobile from $60.00 to $65.00 and gave the stock an “underweight” rating in a research note on Thursday, April 9th. Deutsche Bank Aktiengesellschaft cut AST SpaceMobile from a “buy” rating to a “hold” rating and cut their price target for the stock from $117.00 to $106.00 in a research note on Friday, May 29th. Finally, New Street Research set a $106.00 price objective on AST SpaceMobile in a research note on Friday, May 29th.

Insider Transactions at AST SpaceMobile

In other news, CFO Andrew Martin Johnson sold 45,809 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $93.81, for a total transaction of $4,297,342.29. Following the sale, the chief financial officer directly owned 503,619 shares in the company, valued at approximately $47,244,498.39. This represents a 8.34% 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, Director Julio A. Torres sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $76.34, for a total value of $1,145,100.00. Following the sale, the director owned 43,239 shares in the company, valued at $3,300,865.26. The trade was a 25.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 3,185,809 shares of company stock worth $284,200,492. 20.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AST SpaceMobile

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. lifted its position in shares of AST SpaceMobile by 48.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 532,960 shares of the company’s stock valued at $26,158,000 after acquiring an additional 172,759 shares during the last quarter. Focus Partners Wealth lifted its position in shares of AST SpaceMobile by 8,016.7% during the 4th quarter. Focus Partners Wealth now owns 1,269,609 shares of the company’s stock valued at $92,000,000 after acquiring an additional 1,253,967 shares during the last quarter. KPP Advisory Services LLC acquired a new stake in shares of AST SpaceMobile during the 4th quarter valued at $1,649,000. M&T Bank Corp lifted its position in shares of AST SpaceMobile by 1,062.9% during the 4th quarter. M&T Bank Corp now owns 77,994 shares of the company’s stock valued at $5,665,000 after acquiring an additional 71,287 shares during the last quarter. Finally, Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new stake in shares of AST SpaceMobile during the 4th quarter valued at $2,290,000. 60.95% of the stock is owned by institutional investors.

AST SpaceMobile Price Performance

Shares of NASDAQ:ASTS opened at $87.57 on Tuesday. The business has a fifty day simple moving average of $90.32 and a 200-day simple moving average of $88.38. AST SpaceMobile has a 52 week low of $36.08 and a 52 week high of $133.86. The company has a quick ratio of 18.37, a current ratio of 18.47 and a debt-to-equity ratio of 1.11. The company has a market cap of $33.99 billion, a P/E ratio of -49.20 and a beta of 2.70.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings results 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). AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The firm had revenue of $14.74 million for the quarter, compared to analysts’ expectations of $39.01 million. During the same period last year, the firm posted ($0.20) EPS. AST SpaceMobile’s revenue was up 1952.2% on a year-over-year basis. Equities research analysts forecast that AST SpaceMobile will post -1.47 EPS for the current year.

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.