AST SpaceMobile (NASDAQ:ASTS) Trading Up 6.3% – Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shot up 6.3% during mid-day trading on Tuesday . The company traded as high as $112.23 and last traded at $111.34. 10,585,737 shares were traded during mid-day trading, a decline of 41% from the average session volume of 18,073,555 shares. The stock had previously closed at $104.78.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. B. Riley cut shares of AST SpaceMobile from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 13th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of AST SpaceMobile in a report on Tuesday, January 20th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Monday, December 29th. Zacks Research downgraded AST SpaceMobile from a “hold” rating to a “strong sell” rating in a report on Friday, January 9th. Finally, Scotiabank cut AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 price target for the company. in a research note on Wednesday, January 7th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average target price of $45.66.

AST SpaceMobile Trading Up 6.3%

The firm has a market cap of $40.86 billion, a price-to-earnings ratio of -89.79 and a beta of 2.70. The company has a debt-to-equity ratio of 0.43, a current ratio of 9.56 and a quick ratio of 9.48. The firm’s fifty day moving average is $78.94 and its 200-day moving average is $65.55.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.27). The business had revenue of $14.74 million for the quarter, compared to analyst estimates of $22.04 million. AST SpaceMobile had a negative return on equity of 27.76% and a negative net margin of 1,639.59%.The business’s revenue was up 1236.4% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.10) earnings per share. Equities analysts anticipate that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the completion of the sale, the insider owned 211,379 shares of the company’s stock, valued at $14,743,685.25. This trade represents a 91.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Maya Bernal sold 6,000 shares of AST SpaceMobile stock in a transaction on Friday, December 5th. The shares were sold at an average price of $73.76, for a total transaction of $442,560.00. Following the completion of the sale, the chief accounting officer owned 122,486 shares of the company’s stock, valued at $9,034,567.36. This represents a 4.67% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders purchased 2,765 shares of company stock valued at $187,236 and sold 2,354,621 shares valued at $164,348,075. Company insiders own 30.90% of the company’s stock.

Institutional Investors Weigh In On AST SpaceMobile

A number of large investors have recently bought and sold shares of ASTS. Crewe Advisors LLC acquired a new position in shares of AST SpaceMobile during the fourth quarter valued at about $25,000. Byrne Asset Management LLC bought a new stake in AST SpaceMobile in the 4th quarter valued at about $29,000. REAP Financial Group LLC acquired a new position in AST SpaceMobile during the 3rd quarter worth approximately $25,000. Financial Connections Group Inc. boosted its holdings in AST SpaceMobile by 100.0% in the fourth quarter. Financial Connections Group Inc. now owns 500 shares of the company’s stock worth $36,000 after acquiring an additional 250 shares in the last quarter. Finally, Signature Resources Capital Management LLC acquired a new stake in AST SpaceMobile in the fourth quarter valued at approximately $38,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.