AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) was up 10% on Friday . The stock traded as high as $107.59 and last traded at $105.86. Approximately 29,433,675 shares traded hands 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.
Analyst Ratings Changes
Several equities analysts have weighed in on ASTS shares. Barclays lifted their price objective on AST SpaceMobile from $60.00 to $65.00 and gave the company an “underweight” rating in a report on Thursday, April 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a report on Friday, March 27th. B. Riley Financial lifted their price objective on AST SpaceMobile from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. New Street Research started coverage on AST SpaceMobile in a report on Wednesday, May 13th. They issued a “neutral” rating and a $80.00 price objective for the company. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $108.00 price objective on shares of AST SpaceMobile in a report on Tuesday, May 12th. Two 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. Based on data from MarketBeat.com, AST SpaceMobile presently has an average rating of “Reduce” and an average price target of $79.45.
Check Out Our Latest Stock Report on ASTS
AST SpaceMobile Price Performance
AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last posted its quarterly 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). AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.The business had revenue of $14.74 million for the quarter, compared to analyst estimates of $39.01 million. During the same period last year, the firm posted ($0.20) EPS. AST SpaceMobile’s quarterly revenue was up 1952.2% on a year-over-year basis. As a group, research analysts anticipate that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current year.
Insider Transactions at AST SpaceMobile
In related news, CTO Huiwen Yao sold 40,000 shares of the business’s 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 owned 4,750 shares in the company, valued at $422,180. The trade was a 89.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Andrew Martin Johnson sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $90.25, for a total value of $451,250.00. Following the sale, the chief financial officer owned 565,805 shares in the company, valued at $51,063,901.25. This represents a 0.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 3,100,000 shares of company stock worth $276,048,350. 20.89% of the stock is currently owned by insiders.
Institutional Investors Weigh In On AST SpaceMobile
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Calton & Associates Inc. grew its position in AST SpaceMobile by 0.8% during the 4th quarter. Calton & Associates Inc. now owns 13,579 shares of the company’s stock worth $986,000 after acquiring an additional 104 shares during the last quarter. Investmark Advisory Group LLC grew its position in shares of AST SpaceMobile by 2.7% in the 4th quarter. Investmark Advisory Group LLC now owns 4,645 shares of the company’s stock valued at $337,000 after buying an additional 120 shares during the last quarter. ORG Partners LLC grew its position in shares of AST SpaceMobile by 4.2% in the 4th quarter. ORG Partners LLC now owns 3,283 shares of the company’s stock valued at $238,000 after buying an additional 133 shares during the last quarter. Atlantic Union Bankshares Corp grew its position in shares of AST SpaceMobile by 18.2% in the 4th quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company’s stock valued at $67,000 after buying an additional 142 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in shares of AST SpaceMobile by 39.0% in the 4th quarter. Larson Financial Group LLC now owns 513 shares of the company’s stock valued at $37,000 after buying an additional 144 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.
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