AST SpaceMobile, Inc. (NASDAQ:ASTS) Receives $45.27 Average PT from Brokerages

AST SpaceMobile, Inc. (NASDAQ:ASTS) has been assigned a consensus recommendation of “Reduce” from the eleven research firms that are covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $45.2714.

Several equities research analysts have recently issued reports on ASTS shares. William Blair started coverage on AST SpaceMobile in a research report on Thursday, August 21st. They set a “market perform” rating for the company. UBS Group downgraded AST SpaceMobile from a “buy” rating to a “neutral” rating and cut their price target for the stock from $62.00 to $43.00 in a research note on Tuesday, September 9th. Scotiabank downgraded AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $42.90 target price for the company. in a research note on Tuesday, October 7th. Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st.

Insider Transactions at AST SpaceMobile

In related news, CFO Andrew Martin Johnson sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $52.48, for a total transaction of $1,049,600.00. Following the transaction, the chief financial officer directly owned 397,485 shares of the company’s stock, valued at approximately $20,860,012.80. This trade represents a 4.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total value of $1,623,200.00. Following the completion of the transaction, the chief technology officer directly owned 4,750 shares in the company, valued at $192,755. This trade represents a 89.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 34.15% of the company’s stock.

Institutional Investors Weigh In On AST SpaceMobile

Hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its position in AST SpaceMobile by 8.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 18,024 shares of the company’s stock valued at $885,000 after acquiring an additional 1,383 shares during the last quarter. Amalgamated Bank boosted its stake in AST SpaceMobile by 16.3% during the third quarter. Amalgamated Bank now owns 14,714 shares of the company’s stock valued at $722,000 after buying an additional 2,062 shares during the last quarter. FAS Wealth Partners Inc. boosted its stake in AST SpaceMobile by 2.1% during the third quarter. FAS Wealth Partners Inc. now owns 51,396 shares of the company’s stock valued at $2,523,000 after buying an additional 1,050 shares during the last quarter. Walkner Condon Financial Advisors LLC raised its position in AST SpaceMobile by 3.7% during the third quarter. Walkner Condon Financial Advisors LLC now owns 10,403 shares of the company’s stock valued at $511,000 after purchasing an additional 367 shares during the period. Finally, Maryland State Retirement & Pension System raised its position in AST SpaceMobile by 14.5% during the third quarter. Maryland State Retirement & Pension System now owns 9,591 shares of the company’s stock valued at $471,000 after purchasing an additional 1,213 shares during the period. 60.95% of the stock is currently owned by institutional investors.

AST SpaceMobile Price Performance

AST SpaceMobile stock opened at $80.06 on Monday. The stock has a market capitalization of $28.70 billion, a price-to-earnings ratio of -42.36 and a beta of 2.41. AST SpaceMobile has a 52-week low of $17.50 and a 52-week high of $102.79. The stock’s 50 day moving average price is $59.59 and its two-hundred day moving average price is $45.64. The company has a debt-to-equity ratio of 0.42, a quick ratio of 8.23 and a current ratio of 8.23.

AST SpaceMobile (NASDAQ:ASTS) last issued its earnings results on Monday, August 11th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.22). The firm had revenue of $1.16 million for the quarter, compared to analyst estimates of $6.37 million. AST SpaceMobile had a negative return on equity of 26.81% and a negative net margin of 7,213.90%. On average, equities analysts predict that AST SpaceMobile will post -0.4 earnings per share for the current year.

AST SpaceMobile Company Profile

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.