Scotiabank upgraded shares of AST SpaceMobile (NASDAQ:ASTS – Free Report) from a sector underperform rating to a sector perform rating in a research note issued to investors on Wednesday morning, MarketBeat reports. They currently have $50.80 target price on the stock.
ASTS has been the subject of several other reports. UBS Group reduced their target price on AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Roth Capital restated a “buy” rating and set a $108.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, May 12th. New Street Research set a $106.00 price objective on shares of AST SpaceMobile in a report on Friday, May 29th. Wall Street Zen cut shares of AST SpaceMobile from a “sell” rating to a “strong sell” rating in a research note on Wednesday, April 15th. Finally, Barclays upped their price target on shares of AST SpaceMobile from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, AST SpaceMobile currently has an average rating of “Hold” and an average target price of $87.60.
Check Out Our Latest Stock Report on AST SpaceMobile
AST SpaceMobile Stock Performance
AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last issued 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). AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.The firm had revenue of $14.73 million during the quarter, compared to analyst estimates of $39.01 million. During the same quarter last year, the company posted ($0.20) EPS. The company’s revenue was up 1952.2% on a year-over-year basis. On average, research analysts predict that AST SpaceMobile will post -1.38 earnings per share for the current year.
Insider Buying and Selling at AST SpaceMobile
In other news, Director Julio A. Torres sold 15,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $76.34, for a total transaction of $1,145,100.00. Following the transaction, the director owned 43,239 shares of the company’s stock, valued at approximately $3,300,865.26. The trade was a 25.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Huiwen Yao sold 40,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $96.37, for a total transaction of $3,854,800.00. Following the transaction, the chief technology officer directly 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 105,809 shares of company stock worth $9,748,492 in the last three months. 20.89% of the stock is owned by corporate insiders.
Institutional Trading of AST SpaceMobile
Hedge funds have recently made changes to their positions in the company. Grove Bank & Trust purchased a new position in AST SpaceMobile in the second quarter worth approximately $27,000. Cornerstone Planning Group LLC boosted its position in shares of AST SpaceMobile by 16,350.0% during the first quarter. Cornerstone Planning Group LLC now owns 329 shares of the company’s stock worth $27,000 after buying an additional 327 shares during the period. Crewe Advisors LLC acquired a new position in shares of AST SpaceMobile in the fourth quarter valued at approximately $25,000. Laurel Wealth Advisors LLC purchased a new stake in shares of AST SpaceMobile during the fourth quarter worth $25,000. Finally, Portus Wealth Advisors LLC acquired a new stake in AST SpaceMobile in the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.
AST SpaceMobile News Roundup
Here are the key news stories impacting AST SpaceMobile this week:
- Positive Sentiment: AST SpaceMobile is preparing to launch three BlueBird satellites on August 5. A successful mission could expand coverage in priority markets, support the company’s delayed network rollout, and strengthen its position in direct-to-smartphone connectivity. AST SpaceMobile, Inc. (ASTS) Stock: Slightly Surges as Three BlueBird Satellites Raise the Stakes
- Positive Sentiment: The company has reportedly secured its next launch for its large BlueBird satellites, again working with a major launch partner. Additional launch capacity would help AST SpaceMobile build out its planned global cellular network. AST SpaceMobile Locks In Next Launch For Its Mega Satellites
- Positive Sentiment: Scotiabank raised AST SpaceMobile to “Sector Perform,” indicating a more constructive view of the shares after their recent decline, although the rating is not an outright bullish recommendation. AST SpaceMobile Raised to Sector Perform at Scotiabank
- Neutral Sentiment: Several comparisons with Rocket Lab and Intuitive Machines highlight AST SpaceMobile’s differentiated strategy: providing broadband cellular service to ordinary, unmodified smartphones. The articles are opinion-based and do not represent new company-specific developments. AST SpaceMobile vs. Rocket Lab
- Negative Sentiment: Pomerantz LLP is investigating potential claims on behalf of AST SpaceMobile investors. Such announcements can create legal and reputational overhang, though the investigation does not establish wrongdoing. Pomerantz Law Firm Investigates Claims
- Negative Sentiment: Broader selling in space stocks and AST SpaceMobile’s steep recent decline continue to signal high volatility and investor caution. The company also faces competitive pressure from Starlink while it scales its network. SpaceX Is Now Down 36% in a Month
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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