AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 11% After Analyst Upgrade

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price rose 11% during mid-day trading on Thursday after New Street Research upgraded the stock to a hold rating. The stock traded as high as $84.51 and last traded at $83.01. Approximately 27,002,444 shares changed hands during mid-day trading, an increase of 67% from the average daily volume of 16,148,940 shares. The stock had previously closed at $74.81.

Other analysts have also issued research reports about the company. Roth Mkm restated a “buy” rating and issued a $108.00 price objective on shares of AST SpaceMobile in a research note on Tuesday. Zacks Research upgraded AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Friday, March 27th. Deutsche Bank Aktiengesellschaft set a $117.00 target price on AST SpaceMobile in a research note on Wednesday, April 15th. Finally, UBS Group lowered their target price on AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $79.45.

Insider Transactions at AST SpaceMobile

In other AST SpaceMobile news, major shareholder Hiroshi Mikitani sold 1,690,000 shares of the firm’s stock in a transaction on 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 transaction, the insider owned 29,330,155 shares in the company, valued at $2,681,362,770.10. This trade represents a 5.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Huiwen Yao sold 40,000 shares of the firm’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $88.88, for a total value of $3,555,200.00. Following the transaction, the chief technology officer owned 4,750 shares in the company, valued at approximately $422,180. This trade represents a 89.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 3,095,000 shares of company stock worth $275,597,100. Company insiders own 20.89% of the company’s stock.

Key AST SpaceMobile News

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

• Positive Sentiment: AT&T, Verizon and T-Mobile announced a satellite-to-phone joint venture to extend coverage in dead zones, which investors may see as validation of AST SpaceMobile’s direct-to-device business model and a sign of growing demand for space-based mobile connectivity. Article Title
• Positive Sentiment: AST SpaceMobile publicly welcomed the carriers’ joint venture, reinforcing the idea that its space-based cellular network could become an important part of future mobile coverage efforts. Article Title
• Positive Sentiment: New Street Research launched a new space-economy coverage group and included ASTS on its initial list, which can increase investor attention and trading interest in the stock. Article Title
• Neutral Sentiment: Analyst opinion remains cautious overall, with a reported consensus rating of “Reduce,” reflecting mixed views on AST SpaceMobile’s execution and valuation. Article Title
• Negative Sentiment: Director Julio A. Torres sold 15,000 shares, a move that can weigh on sentiment because insider selling sometimes signals reduced confidence, even though he still holds a meaningful stake. Article Title
• Negative Sentiment: Recent post-earnings coverage continues to highlight ASTS’s Q1 miss, weaker forecasts, and execution risks, which may limit upside despite the positive carrier news. Article Title

Hedge Funds Weigh In On AST SpaceMobile

A number of hedge funds have recently added to or reduced their stakes in ASTS. Vodafone Ventures Ltd bought a new position in AST SpaceMobile during the 4th quarter worth $397,413,000. Norges Bank bought a new position in AST SpaceMobile during the 4th quarter worth $198,270,000. Vanguard Group Inc. increased its stake in AST SpaceMobile by 13.4% during the 3rd quarter. Vanguard Group Inc. now owns 19,919,888 shares of the company’s stock worth $977,668,000 after acquiring an additional 2,351,539 shares during the period. Clear Street Group Inc. bought a new position in AST SpaceMobile during the 3rd quarter worth $90,129,000. Finally, Morgan Stanley increased its stake in AST SpaceMobile by 44.0% during the 4th quarter. Morgan Stanley now owns 4,661,551 shares of the company’s stock worth $338,569,000 after acquiring an additional 1,425,199 shares during the period. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

The stock has a 50 day simple moving average of $84.65 and a 200 day simple moving average of $82.96. The company has a current ratio of 18.47, a quick ratio of 16.27 and a debt-to-equity ratio of 1.11. The stock has a market cap of $31.96 billion, a P/E ratio of -47.01 and a beta of 2.60.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.43). The company had revenue of $14.74 million for the quarter, compared to the consensus estimate of $39.01 million. AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.AST SpaceMobile’s revenue was up 1952.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.20) EPS. On average, equities analysts expect that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current year.

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.