AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 11.7% – Here’s What Happened

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price rose 11.7% during trading on Thursday . The stock traded as high as $98.10 and last traded at $97.56. Approximately 22,921,894 shares changed hands during trading, an increase of 29% from the average daily volume of 17,822,033 shares. The stock had previously closed at $87.32.

AST SpaceMobile News Roundup

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’

Wall Street Analysts Forecast Growth

ASTS has been the subject of several recent analyst reports. William Blair reaffirmed a “market perform” rating on shares of AST SpaceMobile in a research note on Friday, May 29th. B. Riley Financial upped their price objective on shares of AST SpaceMobile from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. UBS Group lowered their price objective on shares of AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft downgraded shares of AST SpaceMobile from a “buy” rating to a “hold” rating and lowered their price objective for the company from $117.00 to $106.00 in a research note on Friday, May 29th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $81.33.

AST SpaceMobile Trading Down 15.5%

The company has a market capitalization of $31.98 billion, a P/E ratio of -46.30 and a beta of 2.70. The stock’s 50 day moving average is $90.42 and its 200-day moving average is $87.92. The company has a debt-to-equity ratio of 1.11, a current ratio of 18.47 and a quick ratio of 18.37.

AST SpaceMobile (NASDAQ:ASTS) last released 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 return on equity of 24.87% and a negative net margin of 573.67%.The company had revenue of $14.74 million during the quarter, compared to the consensus estimate of $39.01 million. During the same period in the previous year, the company earned ($0.20) earnings per share. AST SpaceMobile’s quarterly revenue was up 1952.2% on a year-over-year basis. As a group, equities research analysts anticipate that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current year.

Insider Activity at AST SpaceMobile

In related news, major shareholder Hiroshi Mikitani sold 1,690,000 shares of the stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $91.42, for a total value of $154,499,800.00. Following the completion of the transaction, the insider directly owned 29,330,155 shares of the company’s stock, valued at $2,681,362,770.10. This represents a 5.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Julio A. Torres sold 15,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $76.34, for a total transaction of $1,145,100.00. Following the completion of the transaction, the director directly owned 43,239 shares of the company’s stock, valued at approximately $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. Insiders sold 3,185,809 shares of company stock valued at $284,200,492 in the last three months. Corporate insiders own 20.89% of the company’s stock.

Institutional Investors Weigh In On AST SpaceMobile

Hedge funds and other institutional investors have recently bought and sold shares of the business. Crewe Advisors LLC purchased a new stake in AST SpaceMobile in the fourth quarter worth about $25,000. Laurel Wealth Advisors LLC purchased a new stake in AST SpaceMobile in the fourth quarter worth about $25,000. Cornerstone Planning Group LLC grew 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 purchasing an additional 327 shares during the period. Byrne Asset Management LLC purchased a new stake in AST SpaceMobile in the fourth quarter worth about $29,000. Finally, Acumen Wealth Advisors LLC purchased a new stake in AST SpaceMobile in the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

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.