AST SpaceMobile, Inc. (NASDAQ:ASTS) Receives Average Recommendation of “Reduce” from Brokerages

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) have been given a consensus rating of “Reduce” by the eleven analysts that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $81.3250.

Several research firms have recently commented on ASTS. Roth Mkm restated a “buy” rating and issued a $108.00 price target on shares of AST SpaceMobile in a report on Tuesday, May 12th. B. Riley Financial boosted their price target on shares of AST SpaceMobile from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Barclays boosted 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. New Street Research set a $106.00 price target on shares of AST SpaceMobile in a report on Friday, May 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a report on Friday, March 27th.

AST SpaceMobile Trading Down 15.5%

NASDAQ:ASTS opened at $82.41 on Tuesday. AST SpaceMobile has a one year low of $36.08 and a one year high of $133.86. The company has a debt-to-equity ratio of 1.11, a quick ratio of 18.37 and a current ratio of 18.47. The firm has a market cap of $31.98 billion, a P/E ratio of -46.30 and a beta of 2.70. The firm has a 50-day simple moving average of $90.42 and a 200-day simple moving average of $87.92.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.66) EPS for the quarter, missing the consensus estimate 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 business had revenue of $14.74 million during the quarter, compared to the consensus estimate of $39.01 million. During the same quarter in the prior year, the firm posted ($0.20) EPS. The company’s revenue for the quarter was up 1952.2% compared to the same quarter last year. Equities analysts anticipate that AST SpaceMobile will post -1.47 EPS for the current fiscal year.

Insider Buying and Selling at AST SpaceMobile

In related news, CFO Andrew Martin Johnson sold 45,809 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $93.81, for a total transaction of $4,297,342.29. Following the completion of the sale, the chief financial officer owned 503,619 shares of the company’s stock, valued at $47,244,498.39. This represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Hiroshi Mikitani sold 1,350,000 shares of the firm’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 transaction 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 approximately $2,412,448,964.10. This trade represents a 4.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 3,185,809 shares of company stock worth $284,200,492. 20.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On AST SpaceMobile

Several institutional investors have recently bought and sold shares of ASTS. Cornerstone Planning Group LLC boosted its holdings in AST SpaceMobile by 16,350.0% in the first quarter. Cornerstone Planning Group LLC now owns 329 shares of the company’s stock worth $27,000 after acquiring an additional 327 shares in the last quarter. Crewe Advisors LLC acquired a new position in shares of AST SpaceMobile during the fourth quarter valued at about $25,000. Laurel Wealth Advisors LLC acquired a new position in shares of AST SpaceMobile during the fourth quarter valued at about $25,000. Portus Wealth Advisors LLC purchased a new position in shares of AST SpaceMobile in the 1st quarter valued at approximately $30,000. Finally, Advocate Investing Services LLC purchased a new position in shares of AST SpaceMobile in the 1st quarter valued at approximately $31,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting AST SpaceMobile

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

• Positive Sentiment: Some commentary remains constructive on AST SpaceMobile’s long-term potential, highlighting its direct-to-smartphone satellite connectivity model, nearly 60 mobile network operator partners, and a large deployment pipeline that could support a move toward $150 by 2027. Prediction: Can AST SpaceMobile Soar to $150 by 2027?
• Positive Sentiment: Earlier in the week, ASTS also benefited from bullish sector momentum after BlueBird launch timing was confirmed for June 17, reinforcing the view that near-term catalysts still exist despite Friday’s pullback. AST SpaceMobile Stock Climbs Ahead of SpaceX IPO As BlueBird Launch Date Confirmed for June 17
• Neutral Sentiment: Analysts and market commentary are framing the move as largely sentiment-driven rather than based on fresh company-specific operating news, with SpaceX IPO excitement lifting and then pressuring comparable space stocks throughout the session. SpaceX, Tesla, EchoStar, and More Stocks That Explain Today’s Market
• Negative Sentiment: AST SpaceMobile shares are being hit in a broad space-sector reset, with one report describing the stock as down sharply alongside Virgin Galactic and Rocket Lab as investors reassess valuations after the SpaceX debut. Virgin Galactic Craters 24%, Rocket Lab Drops 8%, AST SpaceMobile Falls 10% as SpaceX Hype Triggers a Space-Stock Shakeout
• Negative Sentiment: Short-seller criticism of space stocks is adding pressure to ASTS by reinforcing concerns that many of the sector’s growth expectations are too speculative in the wake of SpaceX’s public trading debut. Space Stocks Get Torched: Short Seller Calls Them ‘Sci-Fi Wishes’

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.