AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 11.8% After Insider Buying Activity

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price shot up 11.8% during trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as $63.23 and last traded at $62.40. 19,566,690 shares were traded during trading, an increase of 13% from the average daily volume of 17,314,561 shares. The stock had previously closed at $55.80.

Specifically, Director Adriana Cisneros bought 10,822 shares of the business’s stock in a transaction on Monday, August 31st. The shares were purchased at an average price of $57.22 per share, with a total value of $619,234.84. Following the purchase, the director directly owned 797,023 shares of the company’s stock, valued at approximately $45,605,656.06. The trade was a 1.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ASTS. Roth Capital reissued a “buy” rating and issued a $108.00 price target on shares of AST SpaceMobile in a research note on Tuesday, May 12th. New Street Research set a $106.00 price objective on shares of AST SpaceMobile in a research note on Friday, May 29th. Scotiabank raised shares of AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $50.80 price objective for the company in a report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft set a $93.00 target price on shares of AST SpaceMobile in a research report on Wednesday, August 12th. Finally, Berenberg Bank began coverage on shares of AST SpaceMobile in a research note on Wednesday. They set a “buy” rating and a $92.00 target price on the stock. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $86.58.

AST SpaceMobile News Roundup

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

• Positive Sentiment: Berenberg began covering AST SpaceMobile with a Buy rating and a $92 price target, implying substantial upside from the prior close. The bank also initiated Buy ratings on several other space companies, helping drive a broader sector rebound. Berenberg initiates AST SpaceMobile coverage
• Positive Sentiment: Director Adriana Cisneros bought 10,822 ASTS shares for approximately $619,000 at an average price of $57.22, increasing her holdings to 797,023 shares. The open-market purchase may signal confidence in the company’s long-term prospects. SEC insider transaction filing
• Positive Sentiment: Investors continue to focus on AST SpaceMobile’s potential to provide cellular broadband directly to ordinary smartphones through partnerships with mobile operators. Japan’s progress toward a 700 MHz framework for the Rakuten-AST network could further expand its international opportunity. Japan backs Rakuten-AST network
• Neutral Sentiment: Berenberg estimates the broader space economy could approach $1 trillion by 2030, supporting a potential institutional re-rating of satellite, launch and space-data companies. The estimate is a sector-level theme rather than a near-term ASTS financial update. Berenberg launches space-sector coverage
• Negative Sentiment: AST SpaceMobile’s latest quarter missed expectations: the company reported a $0.77-per-share loss versus a projected $0.32 loss and revenue of $31.52 million versus $34.53 million expected. Possible BlueBird manufacturing delays and reliance on third-party launch providers could slow satellite deployment and postpone revenue growth. AST SpaceMobile earnings and manufacturing-delay analysis

AST SpaceMobile Stock Up 11.8%

The company has a debt-to-equity ratio of 1.24, a quick ratio of 12.90 and a current ratio of 13.05. The company has a market cap of $24.28 billion, a P/E ratio of -29.16 and a beta of 2.74. The stock has a 50 day moving average price of $67.38 and a 200 day moving average price of $80.96.

AST SpaceMobile (NASDAQ:ASTS) last announced its earnings results on Monday, August 10th. The company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.45). The firm had revenue of $31.52 million for the quarter, compared to the consensus estimate of $34.53 million. AST SpaceMobile had a negative net margin of 536.66% and a negative return on equity of 22.88%. During the same period in the prior year, the business earned ($0.41) EPS. Research analysts expect that AST SpaceMobile, Inc. will post -1.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AST SpaceMobile

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Focus Partners Wealth increased its holdings in shares of AST SpaceMobile by 8,016.7% during the 4th quarter. Focus Partners Wealth now owns 1,269,609 shares of the company’s stock valued at $92,000,000 after acquiring an additional 1,253,967 shares during the last quarter. ABN Amro Investment Solutions acquired a new stake in AST SpaceMobile in the 1st quarter worth approximately $996,000. Arrowpoint Investment Partners Singapore Pte. Ltd. acquired a new stake in AST SpaceMobile in the 4th quarter worth approximately $2,290,000. KBC Group NV boosted its position in AST SpaceMobile by 259.5% during the first quarter. KBC Group NV now owns 23,438 shares of the company’s stock worth $1,942,000 after purchasing an additional 16,918 shares during the period. Finally, Bank of Nova Scotia bought a new stake in AST SpaceMobile during the first quarter worth approximately $1,329,000. 60.95% of the stock is owned by institutional investors and hedge funds.

AST SpaceMobile Company Profile

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.