AST SpaceMobile (NASDAQ:ASTS) Announces Quarterly Earnings Results

AST SpaceMobile (NASDAQ:ASTS) released its quarterly earnings results on Monday. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.43), FiscalAI reports. AST SpaceMobile had a negative net margin of 482.16% and a negative return on equity of 23.02%. The firm had revenue of $14.74 million for the quarter, compared to the consensus estimate of $39.01 million.

AST SpaceMobile Price Performance

NASDAQ:ASTS traded up $7.50 during trading hours on Monday, hitting $82.55. 33,252,142 shares of the stock traded hands, compared to its average volume of 15,770,774. The stock has a 50 day moving average price of $85.85 and a 200 day moving average price of $82.88. The company has a quick ratio of 16.27, a current ratio of 16.35 and a debt-to-equity ratio of 0.92. The company has a market cap of $31.54 billion, a price-to-earnings ratio of -62.54 and a beta of 2.60. AST SpaceMobile has a 1 year low of $22.47 and a 1 year high of $129.89.

Insiders Place Their Bets

In other AST SpaceMobile news, major shareholder Hiroshi Mikitani sold 1,690,000 shares of the firm’s stock in a transaction dated 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 sale, the insider directly owned 29,330,155 shares of the company’s stock, valued at $2,681,362,770.10. This trade represents a 5.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Huiwen Yao sold 40,000 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $88.88, for a total value of $3,555,200.00. Following the completion of the transaction, the chief technology officer owned 4,750 shares in the company, valued at $422,180. The trade was a 89.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 3,080,000 shares of company stock worth $274,452,000. 20.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Invesco Ltd. lifted its stake in AST SpaceMobile by 46.7% in the 4th quarter. Invesco Ltd. now owns 312,616 shares of the company’s stock worth $22,705,000 after purchasing an additional 99,526 shares in the last quarter. Axxcess Wealth Management LLC purchased a new position in shares of AST SpaceMobile in the 4th quarter worth approximately $1,050,000. Corient Private Wealth LLC raised its holdings in AST SpaceMobile by 392.5% during the 4th quarter. Corient Private Wealth LLC now owns 36,510 shares of the company’s stock valued at $2,652,000 after buying an additional 29,097 shares during the period. Creek Drive Management Group LLC bought a new stake in AST SpaceMobile in the fourth quarter worth $6,362,000. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of AST SpaceMobile by 37.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 6,630 shares of the company’s stock valued at $482,000 after acquiring an additional 1,819 shares during the period. 60.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. New Street Research set a $115.00 price objective on shares of AST SpaceMobile in a research note on Monday, April 20th. Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Friday, March 27th. UBS Group increased their price target on shares of AST SpaceMobile from $43.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 4th. Deutsche Bank Aktiengesellschaft set a $117.00 price target on shares of AST SpaceMobile in a research note on Wednesday, April 15th. Finally, B. Riley Financial cut their price objective on shares of AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $82.51.

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.