AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) shares traded up 13.1% on Tuesday . The stock traded as high as $127.10 and last traded at $119.70. 47,038,517 shares were traded during mid-day trading, an increase of 178% from the average session volume of 16,939,641 shares. The stock had previously closed at $105.86.
Analysts Set New Price Targets
ASTS has been the topic of several recent research reports. Roth Mkm reaffirmed a “buy” rating and set a $108.00 price objective on shares of AST SpaceMobile in a report on Tuesday, May 12th. B. Riley Financial boosted their price target on shares of AST SpaceMobile from $75.00 to $85.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Zacks Research upgraded shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Wall Street Zen lowered shares of AST SpaceMobile from a “sell” rating to a “strong sell” rating in a research note on Wednesday, April 15th. Finally, Barclays boosted their target price on shares of AST SpaceMobile from $60.00 to $65.00 and gave the company an “underweight” rating in a report on Thursday, April 9th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $79.45.
Get Our Latest Stock Analysis on AST SpaceMobile
AST SpaceMobile Stock Up 13.1%
AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.43). The firm had revenue of $14.74 million during the quarter, compared to analysts’ expectations of $39.01 million. AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.The company’s quarterly revenue was up 1952.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.20) earnings per share. As a group, sell-side analysts expect that AST SpaceMobile, Inc. will post -1.47 EPS for the current fiscal year.
Insider Activity
In other AST SpaceMobile news, Director Julio A. Torres sold 15,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $76.34, for a total value of $1,145,100.00. Following the completion of the transaction, the director directly owned 43,239 shares of the company’s stock, valued at $3,300,865.26. This trade represents a 25.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Huiwen Yao sold 40,000 shares of the business’s stock in a transaction 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 transaction, the chief technology officer owned 4,750 shares of the company’s stock, valued at $422,180. This trade represents a 89.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 3,100,000 shares of company stock valued at $276,048,350 in the last quarter. 20.89% of the stock is currently owned by company insiders.
Institutional Trading of AST SpaceMobile
Institutional investors and hedge funds have recently modified their holdings of the business. Cornerstone Planning Group LLC raised its stake in AST SpaceMobile by 16,350.0% in the first quarter. Cornerstone Planning Group LLC now owns 329 shares of the company’s stock valued at $27,000 after purchasing an additional 327 shares in the last quarter. Crewe Advisors LLC purchased a new position in AST SpaceMobile in the 4th quarter worth approximately $25,000. Laurel Wealth Advisors LLC purchased a new position in AST SpaceMobile in the 4th quarter worth approximately $25,000. Portus Wealth Advisors LLC bought a new position in shares of AST SpaceMobile in the 1st quarter worth $30,000. Finally, Advocate Investing Services LLC bought a new position in shares of AST SpaceMobile in the 1st quarter worth $31,000. 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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