AST SpaceMobile, Inc. (NASDAQ:ASTS) Given Average Recommendation of “Hold” by Brokerages

AST SpaceMobile, Inc. (NASDAQ:ASTS) has been assigned an average recommendation of “Hold” from the eleven brokerages that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $45.6571.

ASTS has been the topic of several research analyst reports. UBS Group lowered shares of AST SpaceMobile from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $62.00 to $43.00 in a research report on Tuesday, September 9th. Weiss Ratings restated a “sell (e+)” rating on shares of AST SpaceMobile in a research report on Monday. Zacks Research downgraded AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. William Blair assumed coverage on shares of AST SpaceMobile in a research note on Thursday, August 21st. They issued a “market perform” rating on the stock. Finally, Scotiabank upgraded shares of AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $45.60 target price for the company in a report on Monday.

AST SpaceMobile Price Performance

Shares of ASTS opened at $55.51 on Friday. The company has a current ratio of 9.56, a quick ratio of 9.48 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average is $67.05 and its two-hundred day moving average is $51.15. AST SpaceMobile has a twelve month low of $17.50 and a twelve month high of $102.79. The firm has a market capitalization of $20.37 billion, a PE ratio of -44.77 and a beta of 2.45.

AST SpaceMobile (NASDAQ:ASTS) last posted 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 business had revenue of $14.74 million during the quarter, compared to analyst estimates of $22.04 million. During the same period in the prior year, the business earned ($1.10) earnings per share. The firm’s quarterly revenue was up 1236.4% compared to the same quarter last year. Research analysts anticipate that AST SpaceMobile will post -0.4 earnings per share for the current year.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, Director Adriana Cisneros acquired 750 shares of the company’s stock in a transaction dated Thursday, November 20th. The stock was acquired at an average cost of $50.79 per share, with a total value of $38,092.50. Following the purchase, the director directly owned 784,077 shares in the company, valued at approximately $39,823,270.83. This trade represents a 0.10% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total value of $1,623,200.00. Following the transaction, the chief technology officer owned 4,750 shares of the company’s stock, valued at $192,755. This represents a 89.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 30.90% of the stock is owned by corporate insiders.

Institutional Trading of AST SpaceMobile

Large investors have recently made changes to their positions in the stock. REAP Financial Group LLC purchased a new stake in AST SpaceMobile during the 3rd quarter worth about $25,000. Atlantic Union Bankshares Corp acquired a new stake in shares of AST SpaceMobile during the 2nd quarter worth about $28,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of AST SpaceMobile during the third quarter worth about $29,000. Geneos Wealth Management Inc. raised its position in shares of AST SpaceMobile by 225.0% in the third quarter. Geneos Wealth Management Inc. now owns 650 shares of the company’s stock valued at $32,000 after buying an additional 450 shares during the last quarter. Finally, Binnacle Investments Inc purchased a new position in shares of AST SpaceMobile during the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

About AST SpaceMobile

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.