AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 1.4% – Here’s Why

AST SpaceMobile, Inc. (NASDAQ:ASTS) rose 1.4% on Wednesday . The stock traded as high as $88.45 and last traded at $83.99. Approximately 11,940,004 shares changed hands during mid-day trading, a decline of 20% from the average daily volume of 14,868,371 shares. The stock had previously closed at $82.87.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ASTS shares. Zacks Research raised AST SpaceMobile from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a report on Friday. B. Riley Financial cut their target price on AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, February 13th. Scotiabank downgraded AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 price target for the company. in a report on Wednesday, January 7th. Finally, UBS Group increased their price target on AST SpaceMobile from $43.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, March 4th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $63.77.

AST SpaceMobile Stock Up 1.4%

The company has a current ratio of 16.35, a quick ratio of 16.27 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $32.09 billion, a P/E ratio of -63.63 and a beta of 2.77. The stock’s 50-day simple moving average is $93.55 and its 200-day simple moving average is $79.51.

AST SpaceMobile (NASDAQ:ASTS) last posted its earnings results on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.08). AST SpaceMobile had a negative return on equity of 23.02% and a negative net margin of 482.16%.The firm had revenue of $54.31 million for the quarter, compared to the consensus estimate of $39.53 million. AST SpaceMobile’s quarterly revenue was up 2731.3% on a year-over-year basis. As a group, research analysts predict that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Activity at AST SpaceMobile

In related news, CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $88.88, for a total transaction of $3,555,200.00. Following the sale, the chief technology officer directly owned 4,750 shares in the company, valued at approximately $422,180. This trade represents a 89.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 30.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ASTS. REAP Financial Group LLC bought a new stake in shares of AST SpaceMobile during the 3rd quarter worth $25,000. Crewe Advisors LLC bought a new stake in AST SpaceMobile in the fourth quarter worth about $25,000. Laurel Wealth Advisors LLC purchased a new position in AST SpaceMobile in the fourth quarter valued at about $25,000. Byrne Asset Management LLC bought a new position in shares of AST SpaceMobile during the 4th quarter valued at approximately $29,000. Finally, Acumen Wealth Advisors LLC bought a new position in shares of AST SpaceMobile during the 4th quarter valued at approximately $29,000. 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.