AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) was up 6.3% during trading on Monday . The company traded as high as $89.76 and last traded at $87.57. Approximately 23,594,127 shares changed hands during trading, an increase of 29% from the average daily volume of 18,221,936 shares. The stock had previously closed at $82.41.
Analyst Ratings Changes
A number of research analysts have recently commented on ASTS shares. New Street Research set a $106.00 target price on AST SpaceMobile in a research report on Friday, May 29th. UBS Group lowered their target price on AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft downgraded AST SpaceMobile from a “buy” rating to a “hold” rating and lowered their target price for the company from $117.00 to $106.00 in a research report on Friday, May 29th. B. Riley Financial increased their target price on AST SpaceMobile from $75.00 to $85.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Finally, William Blair restated a “market perform” rating on shares of AST SpaceMobile in a report on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, AST SpaceMobile currently has an average rating of “Reduce” and a consensus target price of $81.33.
Read Our Latest Research Report on AST SpaceMobile
AST SpaceMobile Stock Up 6.3%
AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last released its quarterly earnings results on Monday, May 11th. The company reported ($0.66) earnings per share 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 company had revenue of $14.74 million for the quarter, compared to analysts’ expectations of $39.01 million. During the same quarter in the previous year, the company posted ($0.20) EPS. The business’s quarterly revenue was up 1952.2% on a year-over-year basis. As a group, analysts anticipate that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other AST SpaceMobile news, Director Julio A. Torres sold 15,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $76.34, for a total value of $1,145,100.00. Following the sale, the director owned 43,239 shares in the company, valued at $3,300,865.26. This trade represents a 25.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $96.37, for a total value of $3,854,800.00. Following the completion of the sale, the chief technology officer owned 34,750 shares in the company, valued at approximately $3,348,857.50. The trade was a 53.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 3,185,809 shares of company stock worth $284,200,492. 20.89% of the stock is currently owned by company insiders.
Institutional Trading of AST SpaceMobile
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Calton & Associates Inc. increased its stake in AST SpaceMobile by 0.8% in the fourth quarter. Calton & Associates Inc. now owns 13,579 shares of the company’s stock worth $986,000 after purchasing an additional 104 shares during the period. Investmark Advisory Group LLC increased its stake in shares of AST SpaceMobile by 2.7% during the fourth 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 period. ORG Partners LLC increased its stake in shares of AST SpaceMobile by 4.2% during the fourth 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 period. Atlantic Union Bankshares Corp increased its stake in shares of AST SpaceMobile by 18.2% during the fourth 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 period. Finally, Larson Financial Group LLC increased its stake in shares of AST SpaceMobile by 39.0% during the fourth 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 period. Hedge funds and other 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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