AST SpaceMobile (NASDAQ:ASTS) Trading Down 1.6% – Here’s What Happened

AST SpaceMobile, Inc. (NASDAQ:ASTS) dropped 1.6% on Wednesday . The company traded as low as $87.12 and last traded at $87.32. Approximately 15,504,878 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 17,772,064 shares. The stock had previously closed at $88.71.

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 a number of analyst reports. UBS Group decreased their price target on AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, May 12th. Zacks Research upgraded AST SpaceMobile from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Barclays upped their price target on AST SpaceMobile from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Thursday, April 9th. 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. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a report on Friday, March 27th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $81.33.

AST SpaceMobile Stock Performance

The company has a market capitalization of $31.98 billion, a PE ratio of -46.30 and a beta of 2.70. 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 company has a 50 day moving average price of $90.45 and a 200 day moving average price of $87.96.

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

Insiders Place Their Bets

In other news, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $96.37, for a total transaction of $3,854,800.00. Following the completion of the transaction, the chief technology officer directly owned 34,750 shares in the company, valued at approximately $3,348,857.50. This represents a 53.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew Martin Johnson sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $90.25, for a total value of $451,250.00. Following the transaction, the chief financial officer owned 565,805 shares in the company, valued at $51,063,901.25. This trade represents a 0.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 3,140,000 shares of company stock valued at $279,903,150. Corporate insiders own 20.89% of the company’s stock.

Hedge Funds Weigh In On AST SpaceMobile

Large investors have recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new stake in shares of AST SpaceMobile during the fourth quarter worth $25,000. Laurel Wealth Advisors LLC acquired a new stake in shares of AST SpaceMobile during the fourth quarter worth $25,000. Cornerstone Planning Group LLC raised its holdings in shares of AST SpaceMobile by 16,350.0% during 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 acquired a new stake in shares of AST SpaceMobile during the fourth quarter worth $29,000. Finally, Acumen Wealth Advisors LLC acquired a new stake in shares of AST SpaceMobile during the fourth quarter worth $29,000. 60.95% of the stock is currently owned by institutional investors.

AST SpaceMobile Company Profile

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.