AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report)’s stock price rose 10% during trading on Friday . The stock traded as high as $107.59 and last traded at $105.86. Approximately 29,433,675 shares were traded during mid-day trading, an increase of 77% from the average daily volume of 16,619,256 shares. The stock had previously closed at $96.23.
Key Headlines Impacting AST SpaceMobile
Here are the key news stories impacting AST SpaceMobile this week:
- Positive Sentiment: Defiance launched ASTY, a 2X long ETF on AST SpaceMobile, signaling strong trader demand for bullish exposure to ASTS. Defiance Launches ASTY: The 2X Long ETF for AST SpaceMobile, Inc.
- Positive Sentiment: ASTS is benefiting from broader enthusiasm for space infrastructure names ahead of the SpaceX IPO, which has lifted sentiment across satellite and launch stocks. SpaceX IPO Filing Is Moving Rocket Lab, CoreWeave, and Other Stocks
- Positive Sentiment: Commentary has also pointed to AST SpaceMobile’s FCC approval and its role as a likely beneficiary of rising satellite-to-phone demand, supporting the company’s long-term growth narrative. Forget SpaceX. These 2 Space Stocks Could Be the Real Winners Of the Coming IPO Frenzy
- Neutral Sentiment: Several articles focused on ASTS’s huge multi-year run and asked whether the stock is getting expensive, suggesting some investors are weighing valuation against future growth. Is It Too Late To Consider AST SpaceMobile (ASTS) After Its Recent 17x Three Year Surge?
- Negative Sentiment: ASTS CFO Andrew Martin Johnson sold 5,000 shares, a small insider sale that may prompt some caution, though his remaining stake is still substantial. SEC insider filing
Analyst Upgrades and Downgrades
ASTS has been the subject of several research reports. UBS Group dropped their price target on shares of AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft set a $117.00 price target on shares of AST SpaceMobile in a research note on Wednesday, April 15th. B. Riley Financial boosted their price target on shares of AST SpaceMobile from $75.00 to $85.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. New Street Research started coverage on shares of AST SpaceMobile in a research note on Wednesday, May 13th. They issued a “neutral” rating and a $80.00 price target for the company. Finally, Barclays boosted their target price on shares of AST SpaceMobile from $60.00 to $65.00 and gave the stock an “underweight” rating in a research note on Thursday, April 9th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, AST SpaceMobile presently has an average rating of “Reduce” and an average price target of $79.45.
AST SpaceMobile Trading Up 10.0%
The company has a debt-to-equity ratio of 1.11, a current ratio of 18.47 and a quick ratio of 18.37. The business’s 50 day moving average is $85.01 and its 200 day moving average is $83.47. The stock has a market cap of $41.09 billion, a price-to-earnings ratio of -59.47 and a beta of 2.60.
AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last issued its earnings results on Monday, May 11th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.43). The firm had revenue of $14.74 million for the quarter, compared to analyst estimates of $39.01 million. AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.The business’s revenue for the quarter was up 1952.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.20) EPS. As a group, equities analysts expect that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current fiscal year.
Insider Activity
In related news, CTO Huiwen Yao sold 40,000 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $88.88, for a total transaction of $3,555,200.00. Following the completion of the transaction, the chief technology officer owned 4,750 shares in the company, valued at approximately $422,180. The trade was a 89.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Andrew Martin Johnson sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $90.25, for a total transaction of $451,250.00. Following the completion of the sale, the chief financial officer directly owned 565,805 shares of the company’s stock, valued at approximately $51,063,901.25. This trade represents a 0.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 3,100,000 shares of company stock worth $276,048,350. 20.89% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On AST SpaceMobile
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Calton & Associates Inc. lifted its position in AST SpaceMobile by 0.8% in the fourth quarter. Calton & Associates Inc. now owns 13,579 shares of the company’s stock valued at $986,000 after acquiring an additional 104 shares during the last quarter. Investmark Advisory Group LLC lifted its position in AST SpaceMobile by 2.7% in the fourth quarter. Investmark Advisory Group LLC now owns 4,645 shares of the company’s stock valued at $337,000 after acquiring an additional 120 shares during the last quarter. ORG Partners LLC lifted its position in AST SpaceMobile by 4.2% in the fourth quarter. ORG Partners LLC now owns 3,283 shares of the company’s stock valued at $238,000 after acquiring an additional 133 shares during the last quarter. Atlantic Union Bankshares Corp lifted its position in AST SpaceMobile by 18.2% in the fourth quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company’s stock valued at $67,000 after acquiring an additional 142 shares during the last quarter. Finally, Larson Financial Group LLC lifted its position in AST SpaceMobile by 39.0% in the fourth quarter. Larson Financial Group LLC now owns 513 shares of the company’s stock valued at $37,000 after acquiring an additional 144 shares during the last quarter. 60.95% of the stock is owned by hedge funds and other institutional investors.
About AST SpaceMobile
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.
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