Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) shot up 5.5% during mid-day trading on Friday . The company traded as high as $70.10 and last traded at $68.65. Approximately 11,188,463 shares changed hands during trading, a decline of 37% from the average daily volume of 17,664,773 shares. The stock had previously closed at $65.06.
More AST SpaceMobile News
Here are the key news stories impacting AST SpaceMobile this week:
- Positive Sentiment: The Federal Communications Commission granted AST SpaceMobile a 30-day authorization to test satellite connectivity using 800 MHz frequencies. ASTS already has approval to test the same spectrum with up to 100 commercially available phones near Midland, Texas, and Lanham, Maryland, through September 12. The testing could provide additional validation for the company’s direct-to-device technology. AST SpaceMobile’s FCC Test Arrives as Investors Weigh a Costly Q2 Miss
- Positive Sentiment: AST SpaceMobile and SpaceX are reportedly pursuing prized satellite spectrum. Securing additional spectrum could strengthen ASTS’s network capacity and competitive position, although the report does not indicate that ASTS has won the frequencies. ASTS Stock Rises Overnight: AST SpaceMobile And SpaceX Reportedly Chase Prized Satellite Spectrum
- Positive Sentiment: An investor letter from Crossroads Capital highlighted ASTS’s direct-to-device capability as a competitive advantage, potentially reinforcing the long-term investment case for the company’s satellite-to-smartphone model. Unique Direct to Device Capability Strengthens AST SpaceMobile’s Competitive Edge
- Neutral Sentiment: Policy proposals targeting more than 1,000 U.S. space launches annually could expand industry demand and benefit launch, satellite and lunar-economy companies, but the effect on ASTS is indirect and depends on future government implementation. Trump Targets Over 1,000 US Space Launches A Year
- Negative Sentiment: Delclaux Partners sued AST SpaceMobile for more than $15 million in allegedly unpaid contractual finder’s fees tied to financing arrangements. The case creates potential legal costs, financial exposure and reputational risk. Delclaux Partners Sues AST SpaceMobile for More Than $15 Million in Unpaid Contractual Finder’s Fees
- Negative Sentiment: SpaceX’s Starlink constellation has surpassed 11,000 satellites, highlighting the scale and growing competitive threat ASTS faces in satellite connectivity. ASTS also recently reported a wider-than-expected quarterly loss and lower-than-expected revenue, keeping execution and funding concerns in focus. As Starlink Passes 11,000 Satellites, These 5 Stocks Will Feel It First
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on ASTS shares. B. Riley Financial upgraded AST SpaceMobile from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a research note on Friday, July 17th. New Street Research set a $106.00 target price on AST SpaceMobile in a report on Friday, May 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Wednesday, June 24th. Roth Capital reissued a “buy” rating and issued a $108.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, May 12th. Finally, Scotiabank upgraded shares of AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $50.80 price objective on the stock in a research note on Wednesday, July 29th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, AST SpaceMobile currently has a consensus rating of “Hold” and a consensus target price of $85.98.
AST SpaceMobile Stock Up 5.5%
The firm has a market capitalization of $26.72 billion, a price-to-earnings ratio of -32.08 and a beta of 2.75. The business has a 50 day moving average of $70.53 and a 200 day moving average of $83.26. The company has a debt-to-equity ratio of 1.24, a current ratio of 13.05 and a quick ratio of 12.90.
AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.77) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.45). The business had revenue of $31.52 million for the quarter, compared to analyst estimates of $34.53 million. AST SpaceMobile had a negative return on equity of 22.88% and a negative net margin of 536.66%.During the same quarter in the prior year, the firm earned ($0.41) EPS. On average, equities analysts anticipate that AST SpaceMobile, Inc. will post -1.95 EPS for the current year.
Insider Activity
In related news, CFO Andrew Martin Johnson sold 45,809 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $93.81, for a total value of $4,297,342.29. Following the completion of the transaction, the chief financial officer owned 503,619 shares of the company’s stock, valued at $47,244,498.39. This represents a 8.34% 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 firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $96.37, for a total transaction of $3,854,800.00. Following the transaction, the chief technology officer owned 34,750 shares of the company’s stock, valued at approximately $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. 20.89% of the stock is currently owned by insiders.
Hedge Funds Weigh In On AST SpaceMobile
A number of hedge funds have recently modified their holdings of ASTS. Calton & Associates Inc. boosted its holdings in AST SpaceMobile by 0.8% in the fourth quarter. Calton & Associates Inc. now owns 13,579 shares of the company’s stock valued at $986,000 after acquiring an additional 104 shares during the last quarter. Atlantic Union Bankshares Corp raised its holdings in AST SpaceMobile by 18.2% during the 4th quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company’s stock worth $67,000 after purchasing an additional 142 shares during the last quarter. Larson Financial Group LLC raised its holdings in AST SpaceMobile by 39.0% during the 4th quarter. Larson Financial Group LLC now owns 513 shares of the company’s stock worth $37,000 after purchasing an additional 144 shares during the last quarter. Capital Advisors Ltd. LLC lifted its position in AST SpaceMobile by 6.6% during the 1st quarter. Capital Advisors Ltd. LLC now owns 2,638 shares of the company’s stock valued at $219,000 after purchasing an additional 164 shares during the period. Finally, Hollencrest Capital Management lifted its position in AST SpaceMobile by 11.7% during the 1st quarter. Hollencrest Capital Management now owns 1,592 shares of the company’s stock valued at $132,000 after purchasing an additional 167 shares during the period. 60.95% of the stock is owned by institutional investors and hedge funds.
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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