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

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) shot up 3.2% on Monday . The stock traded as high as $90.35 and last traded at $89.11. 8,103,388 shares traded 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 brokerages have recently commented on ASTS. Zacks Research raised shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Monday, December 29th. UBS Group lifted their price objective on shares of AST SpaceMobile from $43.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, March 4th. Scotiabank cut shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 target price for the company. in a report on Wednesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of AST SpaceMobile in a report on Tuesday, January 20th. Two investment 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. According to data from MarketBeat.com, AST SpaceMobile presently has an average rating of “Reduce” and a consensus target price of $63.77.

AST SpaceMobile Trading Up 3.2%

The company has a fifty day moving average of $96.35 and a two-hundred day moving average of $75.73. The company has a quick ratio of 16.27, a current ratio of 16.35 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $32.71 billion, a price-to-earnings ratio of -67.51 and a beta of 2.78.

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

Insider Buying and Selling

In other news, Director Keith R. Larson purchased 625 shares of the firm’s stock in a transaction dated Wednesday, December 24th. The shares were acquired at an average price of $80.00 per share, with a total value of $50,000.00. Following the purchase, the director directly owned 2,015 shares of the company’s stock, valued at $161,200. The trade was a 44.96% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 30.90% of the company’s stock.

Institutional Investors Weigh In On AST SpaceMobile

A number of institutional investors and hedge funds have recently bought and sold shares of ASTS. REAP Financial Group LLC acquired a new position in AST SpaceMobile in the 3rd quarter valued at $25,000. Crewe Advisors LLC purchased a new stake in AST SpaceMobile in the fourth quarter valued at approximately $25,000. Laurel Wealth Advisors LLC acquired a new position in AST SpaceMobile during the fourth quarter worth approximately $25,000. Byrne Asset Management LLC acquired a new position in AST SpaceMobile during the fourth quarter worth approximately $29,000. Finally, Acumen Wealth Advisors LLC purchased a new position in AST SpaceMobile during the fourth quarter worth approximately $29,000. Hedge funds and other 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.