Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $129.97 and last traded at $128.4180, with a volume of 22674277 shares. The stock had previously closed at $119.70.
Key AST SpaceMobile News
Here are the key news stories impacting AST SpaceMobile this week:
- Negative Sentiment: Blue Origin’s New Glenn rocket explosion raised fears of launch delays for AST SpaceMobile’s satellite program, since the company relies on partner launches to advance its constellation buildout. AST SpaceMobile stock crashes on Blue Origin disaster: buy the dip?
- Negative Sentiment: Deutsche Bank downgraded ASTS from buy to hold and set a $106 price target, signaling less upside from current levels. AST SpaceMobile downgrade by Deutsche Bank
- Negative Sentiment: Analysts and market commentary continue to flag ASTS’s high valuation, recent earnings miss, and dilution/debt concerns, which could weigh on the shares if execution slips. The SpaceX IPO Frenzy Is Creating 2 Very Different Bets (ASTS)
- Neutral Sentiment: Some recent coverage remains constructive on AST SpaceMobile’s long-term satellite-to-smartphone technology, strong liquidity, and telecom partnerships, but that optimism is being overshadowed by near-term launch risk. AST SpaceMobile’s Next Chapter Changes Everything
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. B. Riley Financial increased their target price on shares of AST SpaceMobile from $75.00 to $85.00 and gave the stock a “neutral” rating in a report on Tuesday, May 12th. Barclays increased their target price on shares of AST SpaceMobile from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Thursday, April 9th. UBS Group dropped their target price on shares of AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Tuesday, May 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of AST SpaceMobile in a report on Friday, March 27th. Finally, William Blair reissued a “market perform” rating on shares of AST SpaceMobile in a report on Friday. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, AST SpaceMobile has an average rating of “Reduce” and an average target price of $81.33.
AST SpaceMobile Price Performance
The company has a 50 day moving average price of $87.61 and a 200-day moving average price of $85.05. The company has a quick ratio of 18.37, a current ratio of 18.47 and a debt-to-equity ratio of 1.11. The company has a market cap of $42.84 billion, a price-to-earnings ratio of -61.60 and a beta of 2.60.
AST SpaceMobile (NASDAQ:ASTS – Get Free Report) 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 firm had revenue of $14.74 million during the quarter, compared to analyst estimates of $39.01 million. During the same period in the prior year, the company earned ($0.20) EPS. The business’s quarterly revenue was up 1952.2% compared to the same quarter last year. As a group, equities research analysts predict that AST SpaceMobile, Inc. will post -1.47 EPS for the current fiscal year.
Insider Activity
In other AST SpaceMobile news, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction that occurred 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 sale, the chief technology officer owned 4,750 shares of the company’s stock, valued at approximately $422,180. This represents a 89.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Hiroshi Mikitani sold 1,350,000 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $86.22, for a total transaction of $116,397,000.00. Following the sale, the insider directly owned 27,980,155 shares of the company’s stock, valued at $2,412,448,964.10. This represents a 4.60% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 3,100,000 shares of company stock worth $276,048,350. 20.89% of the stock is owned by company insiders.
Institutional Trading of AST SpaceMobile
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in AST SpaceMobile by 7.9% during the 4th quarter. Vanguard Group Inc. now owns 21,488,180 shares of the company’s stock valued at $1,560,687,000 after purchasing an additional 1,568,292 shares during the period. Vodafone Ventures Ltd acquired a new stake in AST SpaceMobile during the 4th quarter valued at approximately $397,413,000. Morgan Stanley increased its position 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 purchasing an additional 1,425,199 shares during the period. Geode Capital Management LLC increased its position in AST SpaceMobile by 9.8% during the 4th quarter. Geode Capital Management LLC now owns 4,522,549 shares of the company’s stock valued at $328,749,000 after purchasing an additional 402,505 shares during the period. Finally, State Street Corp increased its position in AST SpaceMobile by 9.7% during the 4th quarter. State Street Corp now owns 3,951,685 shares of the company’s stock valued at $287,011,000 after purchasing an additional 350,690 shares during the period. Institutional investors and hedge funds own 60.95% of the company’s stock.
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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