AST SpaceMobile (NASDAQ:ASTS) Trading Up 1.8% – Still a Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price shot up 1.8% during trading on Tuesday . The company traded as high as $72.17 and last traded at $68.82. 9,321,995 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 18,359,285 shares. The stock had previously closed at $67.58.

More AST SpaceMobile News

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

• Positive Sentiment: AST SpaceMobile continues to attract bullish long-term attention because analysts and commentators see upside if its satellite-to-smartphone network expands as planned, with some coverage framing ASTS as one of the more compelling alternative space plays. 3 Space Stocks That Could Outshine SpaceX After Its IPO
• Positive Sentiment: Fresh New Zealand gateway approval is a small but important operational step that could help AST SpaceMobile connect satellites with telecom networks and support voice, data, and video service to standard smartphones. ASTS Stock Slips Overnight Despite Fresh New Zealand Gateway Approval For AST SpaceMobile
• Positive Sentiment: Retail interest remains strong after the selloff, with ASTS tied for the top beaten-down space stock pick among traders, and one report noting a large institutional ASTS position ahead of the next BlueBird satellite launch. SPCX Vs RKLB Vs ASTS Vs PL: Which Space Stock Are Retail Traders Buying After The Selloff?
• Neutral Sentiment: Analyst-focused coverage is still modeling meaningful future value for ASTS by 2028, but that upside depends on successful execution of its satellite network and commercialization timeline. What AST SpaceMobile Could Be Worth in 2028, According to Analysts
• Negative Sentiment: AST SpaceMobile shares fell sharply in the latest session, reflecting a broader risk-off move in space stocks and investor concern that recent gains may be harder to sustain without stronger operating results. AST SpaceMobile, Inc. (ASTS) Declines More Than Market: Some Information for Investors
• Negative Sentiment: Coverage also highlighted mounting losses, cash burn, and repeated EPS misses, which are keeping Wall Street cautious even as ASTS advances its launch and partnership plans. AST SpaceMobile’s Next Launches Could Decide Whether Its Rally Regains Orbit
• Negative Sentiment: Sector-wide pressure from a China rocket milestone and higher oil prices also weighed on ASTS alongside peers, adding to the recent pullback in space-related stocks. SpaceX and AST SpaceMobile Fall 5%, Rocket Lab Sheds 4% as China Rocket Milestone and Oil Spike Hit Space Stocks

Analysts Set New Price Targets

A number of brokerages recently issued reports on ASTS. B. Riley Financial boosted their price objective on AST SpaceMobile from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Tuesday, May 12th. Barclays lifted 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. Deutsche Bank Aktiengesellschaft lowered shares of AST SpaceMobile from a “buy” rating to a “hold” rating and dropped their price target for the stock from $117.00 to $106.00 in a research report on Friday, May 29th. Roth Capital reissued a “buy” rating and issued a $108.00 price objective on shares of AST SpaceMobile in a research note on Tuesday, May 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, AST SpaceMobile has a consensus rating of “Reduce” and an average target price of $85.09.

AST SpaceMobile Stock Up 1.8%

The company has a current ratio of 18.47, a quick ratio of 18.37 and a debt-to-equity ratio of 1.11. The company has a 50 day simple moving average of $87.31 and a two-hundred day simple moving average of $89.59. The firm has a market capitalization of $26.71 billion, a P/E ratio of -38.66 and a beta of 2.69.

AST SpaceMobile (NASDAQ:ASTS) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.66) earnings per share (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 company had revenue of $14.73 million for the quarter, compared to the consensus estimate of $39.01 million. During the same quarter in the previous year, the business earned ($0.20) EPS. The company’s quarterly revenue was up 1952.2% on a year-over-year basis. On average, equities analysts predict that AST SpaceMobile, Inc. will post -1.47 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Huiwen Yao sold 40,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $96.37, for a total transaction of $3,854,800.00. Following 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew Martin Johnson sold 45,809 shares of the stock in a transaction dated Thursday, June 11th. The stock was 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 directly owned 503,619 shares in the company, valued at $47,244,498.39. This trade represents a 8.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,455,809 shares of company stock valued at $126,145,492. 20.89% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ASTS. Vanguard Group Inc. raised its holdings in shares of AST SpaceMobile by 7.9% in the fourth quarter. Vanguard Group Inc. now owns 21,488,180 shares of the company’s stock worth $1,560,687,000 after buying an additional 1,568,292 shares during the period. Vodafone Ventures Ltd purchased a new position in AST SpaceMobile during the 4th quarter valued at $397,413,000. Morgan Stanley boosted its holdings in AST SpaceMobile by 44.0% during the 4th quarter. Morgan Stanley now owns 4,661,551 shares of the company’s stock valued at $338,569,000 after acquiring an additional 1,425,199 shares during the period. Geode Capital Management LLC grew its position in AST SpaceMobile by 9.8% in the 4th quarter. Geode Capital Management LLC now owns 4,522,549 shares of the company’s stock valued at $328,749,000 after acquiring an additional 402,505 shares during the last quarter. Finally, State Street Corp grew its position in AST SpaceMobile by 9.7% in the 4th quarter. State Street Corp now owns 3,951,685 shares of the company’s stock valued at $287,011,000 after acquiring an additional 350,690 shares during the last quarter. Institutional investors own 60.95% of the company’s stock.

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.