AST SpaceMobile (NASDAQ:ASTS) Shares Up 3.2% – Here’s What Happened

AST SpaceMobile, Inc. (NASDAQ:ASTS) shot up 3.2% during trading on Monday . The stock traded as high as $90.35 and last traded at $89.11. 8,103,388 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 15,252,132 shares. The stock had previously closed at $86.34.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ASTS shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of AST SpaceMobile in a report on Tuesday, January 20th. Zacks Research upgraded shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Scotiabank lowered AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 price target on the stock. in a research note on Wednesday, January 7th. Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a report on Monday, December 29th. Finally, B. Riley Financial dropped their price objective on AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, February 13th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $63.77.

AST SpaceMobile Stock Performance

The company has a current ratio of 16.35, a quick ratio of 16.27 and a debt-to-equity ratio of 0.92. The stock’s 50 day moving average is $96.27 and its 200 day moving average is $76.35. The stock has a market capitalization of $33.30 billion, a price-to-earnings ratio of -68.74 and a beta of 2.77.

AST SpaceMobile (NASDAQ:ASTS) last announced its earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.08). AST SpaceMobile had a negative return on equity of 23.02% and a negative net margin of 482.16%.The business had revenue of $54.31 million for the quarter, compared to analyst estimates of $39.53 million. The business’s quarterly revenue was up 2731.3% compared to the same quarter last year. On average, analysts predict that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Insider Activity

In related news, Director Keith R. Larson acquired 625 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The stock was purchased at an average cost of $80.00 per share, for a total transaction of $50,000.00. Following the transaction, the director directly owned 2,015 shares of the company’s stock, valued at approximately $161,200. This trade represents a 44.96% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 30.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AST SpaceMobile

Large investors have recently bought and sold shares of the stock. REAP Financial Group LLC purchased a new position in AST SpaceMobile during the third quarter worth about $25,000. Crewe Advisors LLC acquired a new position in shares of AST SpaceMobile during the 4th quarter valued at about $25,000. Laurel Wealth Advisors LLC acquired a new position in shares of AST SpaceMobile during the 4th quarter valued at about $25,000. Byrne Asset Management LLC purchased a new position in shares of AST SpaceMobile during the 4th quarter worth about $29,000. Finally, Acumen Wealth Advisors LLC purchased a new position in shares of AST SpaceMobile during the 4th quarter worth about $29,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

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.