Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) were down 6.1% on Tuesday . The stock traded as low as $82.11 and last traded at $82.25. Approximately 19,779,886 shares traded hands during trading, an increase of 9% from the average daily volume of 18,205,889 shares. The stock had previously closed at $87.57.
More AST SpaceMobile News
Here are the key news stories impacting AST SpaceMobile this week:
- Positive Sentiment: AST SpaceMobile confirmed that BlueBird 8, 9, and 10 are secured for a June 17 Falcon 9 launch, a key operational catalyst that could support progress toward its satellite deployment goals. AST SpaceMobile Announces Launch Date for Its Next 3 BlueBird Satellites
- Positive Sentiment: Some coverage remains constructive on ASTS’s long-term opportunity, highlighting its direct-to-device satellite network ambitions and potential defense revenue, which reinforces the growth story behind the stock. AST SpaceMobile: Beyond Space-Based Connectivity, A Defense Powerhouse In The Making
- Neutral Sentiment: Articles discussing the stock’s recent pullback and whether it is a buying opportunity suggest investors are reassessing valuation after a sharp run-up, but they do not point to a clear new business development. Back Below $90, Is AST SpaceMobile Stock Finally a Buy?
- Neutral Sentiment: Broader commentary on SpaceX’s public debut is lifting attention across the space sector and creating temporary trading rotation, which may be affecting ASTS more through market sentiment than company-specific fundamentals. Gravity Check: Houston, SpaceX Has a Valuation Problem
- Negative Sentiment: Some traders and analysts are focused on shareholder dilution and a cautious “Reduce” rating, which can weigh on sentiment even as ASTS funds its long-term satellite buildout. 3 Stocks Diluting Shareholders to Fund Big Long-Term Opportunities
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on ASTS shares. Wall Street Zen cut AST SpaceMobile from a “sell” rating to a “strong sell” rating in a research report on Wednesday, April 15th. UBS Group reduced their price target 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. Roth Mkm reiterated a “buy” rating and set a $108.00 price target on shares of AST SpaceMobile in a research report on Tuesday, May 12th. Zacks Research upgraded AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Finally, Deutsche Bank Aktiengesellschaft cut AST SpaceMobile from a “buy” rating to a “hold” rating and reduced their price target for the company from $117.00 to $106.00 in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $81.33.
AST SpaceMobile Price Performance
The stock has a 50 day simple moving average of $90.32 and a two-hundred day simple moving average of $88.38. The company has a market cap of $31.92 billion, a price-to-earnings ratio of -46.21 and a beta of 2.70. The company has a debt-to-equity ratio of 1.11, a current ratio of 18.47 and a quick ratio of 18.37.
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 for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.43). The company 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 quarterly revenue was up 1952.2% on a year-over-year basis. During the same period last year, the firm posted ($0.20) EPS. On average, equities research analysts predict that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current fiscal year.
Insider Transactions at AST SpaceMobile
In related news, major shareholder Hiroshi Mikitani sold 1,690,000 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $91.42, for a total transaction of $154,499,800.00. Following the completion of the transaction, the insider directly owned 29,330,155 shares in the company, valued at $2,681,362,770.10. This trade represents a 5.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction dated Friday, June 5th. The shares were 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 directly owned 34,750 shares in the company, valued at $3,348,857.50. This represents 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. Insiders sold a total of 3,185,809 shares of company stock worth $284,200,492 in the last 90 days. Insiders own 20.89% of the company’s stock.
Institutional Investors Weigh In On AST SpaceMobile
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in AST SpaceMobile by 7.9% in 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 in the last quarter. Vodafone Ventures Ltd acquired a new stake in AST SpaceMobile in the 4th quarter valued at about $397,413,000. Morgan Stanley raised its position in AST SpaceMobile by 44.0% in 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 in the last quarter. Geode Capital Management LLC raised its position in AST SpaceMobile by 9.8% in 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 in the last quarter. Finally, State Street Corp raised its position in AST SpaceMobile by 9.7% in 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 in the last quarter. Institutional investors and hedge funds 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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