AST SpaceMobile (NASDAQ:ASTS) Trading Up 2.4% – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price shot up 2.4% during mid-day trading on Tuesday . The company traded as high as $89.87 and last traded at $88.86. 23,680,412 shares changed hands during mid-day trading, an increase of 26% from the average daily volume of 18,817,725 shares. The stock had previously closed at $86.77.

AST SpaceMobile News Summary

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

• Positive Sentiment: Japan’s government said it will provide up to 148 billion yen ($912 million) to help Rakuten build a satellite communications network, and Rakuten said it is in talks with AST SpaceMobile for a joint venture. That raised hopes ASTS could help power a major new direct-to-mobile satellite project in Japan. Rakuten satellite project to receive up to $912 million in Japan govt grant
• Positive Sentiment: Investor enthusiasm also got a lift from reports that AST SpaceMobile shares surged after the Rakuten partnership news, with traders viewing the deal as validation of ASTS’s commercial opportunity in Japan. AST SpaceMobile (ASTS) Soars 21% on Rakuten Satellite Deal
• Neutral Sentiment: More commentary highlighted that ASTS is building out its satellite fleet and preparing additional BlueBird launches, reinforcing the long-term growth story but adding no new immediate catalyst. Buy AST SpaceMobile Before Aug. 1 Due to This Opportunity
• Neutral Sentiment: Broader space-sector strength, including Rocket Lab’s sharp rally after its Iridium acquisition, has helped lift sentiment across the group and may be supporting ASTS as investors rotate into satellite names. Rocket Lab Takes a Page From SpaceX’s Playbook With Its Transformative Iridium Buy
• Negative Sentiment: Some market chatter about competitive space deals and Rocket Lab’s Iridium transaction could shift attention toward rivals, but there is no direct negative development for ASTS in the latest headlines. RKLB Stock Keeps Flying Overnight: Analyst Says Rocket Lab Outbid ASTS, Other Rivals For Iridium In ‘Bolt From The Blue’ Deal

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. New Street Research set a $106.00 price objective on shares of AST SpaceMobile in a research note on Friday, May 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of AST SpaceMobile in a report on Wednesday, June 24th. B. Riley Financial lifted their price objective on AST SpaceMobile from $75.00 to $85.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. UBS Group reduced their target price on AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Finally, Barclays upped their target price on AST SpaceMobile from $60.00 to $65.00 and gave the company an “underweight” rating in a report on Thursday, April 9th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and an average target price of $85.09.

AST SpaceMobile Price Performance

The stock has a market cap of $34.49 billion, a PE ratio of -49.92 and a beta of 2.70. The business has a fifty day simple moving average of $87.09 and a two-hundred day simple moving average of $89.33. The company has a current ratio of 18.47, a quick ratio of 18.37 and a debt-to-equity ratio of 1.11.

AST SpaceMobile (NASDAQ:ASTS) last released its earnings results on Monday, May 11th. The company reported ($0.66) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.43). AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The firm had revenue of $14.73 million during the quarter, compared to analysts’ expectations of $39.01 million. During the same quarter in the previous year, the business earned ($0.20) EPS. The company’s revenue for the quarter was up 1952.2% compared to the same quarter last year. Research analysts forecast that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current year.

Insider Transactions at AST SpaceMobile

In other news, CFO Andrew Martin Johnson sold 45,809 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $93.81, for a total transaction of $4,297,342.29. Following the sale, the chief financial officer owned 503,619 shares in the company, valued at approximately $47,244,498.39. The trade was a 8.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Huiwen Yao sold 40,000 shares of the company’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 completion of the sale, the chief technology officer directly owned 34,750 shares in the company, valued at $3,348,857.50. This represents a 53.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 3,145,809 shares of company stock worth $280,645,292. Corporate insiders own 20.89% of the company’s stock.

Hedge Funds Weigh In On AST SpaceMobile

A number of institutional investors and hedge funds have recently made changes to their positions in ASTS. Calton & Associates Inc. increased its position in shares of AST SpaceMobile by 0.8% during 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 in the last quarter. Investmark Advisory Group LLC raised its holdings in AST SpaceMobile by 2.7% in the 4th quarter. Investmark Advisory Group LLC now owns 4,645 shares of the company’s stock worth $337,000 after acquiring an additional 120 shares during the last quarter. ORG Partners LLC lifted its position in AST SpaceMobile by 4.2% in the 4th quarter. ORG Partners LLC now owns 3,283 shares of the company’s stock valued at $238,000 after acquiring an additional 133 shares in the last quarter. Atlantic Union Bankshares Corp lifted its position in AST SpaceMobile by 18.2% in the 4th quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company’s stock valued at $67,000 after acquiring an additional 142 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in AST SpaceMobile by 39.0% during the 4th quarter. Larson Financial Group LLC now owns 513 shares of the company’s stock valued at $37,000 after purchasing an additional 144 shares during the last quarter. Institutional investors 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.