AST SpaceMobile (NASDAQ:ASTS) Price Target Raised to $90.00

AST SpaceMobile (NASDAQ:ASTSFree Report) had its price objective upped by Cantor Fitzgerald from $80.00 to $90.00 in a research report report published on Tuesday morning, Marketbeat Ratings reports. Cantor Fitzgerald currently has an overweight rating on the stock.

A number of other brokerages also recently issued reports on ASTS. Scotiabank raised AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $50.80 target price for the company in a research note on Wednesday, July 29th. B. Riley Financial raised shares of AST SpaceMobile from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Friday, July 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of AST SpaceMobile in a report on Wednesday, June 24th. Piper Sandler started coverage on shares of AST SpaceMobile in a report on Wednesday, July 15th. They issued an “overweight” rating and a $100.00 price objective for the company. Finally, New Street Research set a $106.00 price objective on AST SpaceMobile in a research report on Friday, May 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 company. According to data from MarketBeat.com, AST SpaceMobile currently has a consensus rating of “Hold” and an average price target of $85.98.

View Our Latest Report on ASTS

AST SpaceMobile Trading Down 3.8%

Shares of AST SpaceMobile stock opened at $71.52 on Tuesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 18.47 and a quick ratio of 18.37. The stock’s 50 day simple moving average is $72.90 and its 200-day simple moving average is $84.88. The stock has a market cap of $27.76 billion, a P/E ratio of -33.42 and a beta of 2.75. AST SpaceMobile has a 1-year low of $36.08 and a 1-year high of $133.86.

AST SpaceMobile (NASDAQ:ASTSGet Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.32) by ($0.45). AST SpaceMobile had a negative net margin of 536.66% and a negative return on equity of 23.32%. The company had revenue of $31.52 million during the quarter, compared to analyst estimates of $34.53 million. During the same period in the prior year, the business posted ($0.41) EPS. Analysts predict that AST SpaceMobile will post -1.83 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CTO Huiwen Yao sold 40,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief technology officer directly owned 34,750 shares of the company’s stock, valued at $3,348,857.50. This trade represents a 53.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew Martin Johnson sold 45,809 shares of AST SpaceMobile stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $93.81, for a total transaction of $4,297,342.29. Following the completion of the sale, the chief financial officer directly owned 503,619 shares of the company’s stock, valued at $47,244,498.39. The trade was a 8.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 90,809 shares of company stock valued at $8,603,392. Corporate insiders own 20.89% of the company’s stock.

Institutional Trading of AST SpaceMobile

A number of hedge funds have recently made changes to their positions in the company. Vodafone Ventures Ltd acquired a new stake in shares of AST SpaceMobile during the 4th quarter worth approximately $397,413,000. Norges Bank acquired a new stake in shares of AST SpaceMobile in the fourth quarter valued at approximately $198,270,000. Vanguard Group Inc. increased 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 acquiring an additional 1,568,292 shares during the period. Morgan Stanley raised its stake in AST SpaceMobile by 44.0% during the 4th quarter. Morgan Stanley now owns 4,661,551 shares of the company’s stock valued at $338,569,000 after acquiring an additional 1,425,199 shares in the last quarter. Finally, Focus Partners Wealth boosted its position in AST SpaceMobile by 8,016.7% during the 4th quarter. Focus Partners Wealth now owns 1,269,609 shares of the company’s stock worth $92,000,000 after acquiring an additional 1,253,967 shares during the period. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile News Summary

Here are the key news stories impacting AST SpaceMobile this week:

AST SpaceMobile Company Profile

(Get Free Report)

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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Analyst Recommendations for AST SpaceMobile (NASDAQ:ASTS)

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