AST SpaceMobile (NASDAQ:ASTS) Trading Up 7.4% – Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price was up 7.4% during trading on Thursday . The company traded as high as $97.65 and last traded at $96.23. Approximately 24,244,237 shares traded hands during trading, an increase of 47% from the average daily volume of 16,481,650 shares. The stock had previously closed at $89.58.

AST SpaceMobile News Summary

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

• Positive Sentiment: Defiance launched ASTY, a 2X long ETF on AST SpaceMobile, signaling strong trader demand for bullish exposure to ASTS. Defiance Launches ASTY: The 2X Long ETF for AST SpaceMobile, Inc.
• Positive Sentiment: ASTS is benefiting from broader enthusiasm for space infrastructure names ahead of the SpaceX IPO, which has lifted sentiment across satellite and launch stocks. SpaceX IPO Filing Is Moving Rocket Lab, CoreWeave, and Other Stocks
• Positive Sentiment: Commentary has also pointed to AST SpaceMobile’s FCC approval and its role as a likely beneficiary of rising satellite-to-phone demand, supporting the company’s long-term growth narrative. Forget SpaceX. These 2 Space Stocks Could Be the Real Winners Of the Coming IPO Frenzy
• Neutral Sentiment: Several articles focused on ASTS’s huge multi-year run and asked whether the stock is getting expensive, suggesting some investors are weighing valuation against future growth. Is It Too Late To Consider AST SpaceMobile (ASTS) After Its Recent 17x Three Year Surge?
• Negative Sentiment: ASTS CFO Andrew Martin Johnson sold 5,000 shares, a small insider sale that may prompt some caution, though his remaining stake is still substantial. SEC insider filing

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Wall Street Zen cut AST SpaceMobile from a “sell” rating to a “strong sell” rating in a research report on Wednesday, April 15th. UBS Group decreased their price target on AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Barclays upped their price target on AST SpaceMobile from $60.00 to $65.00 and gave the company an “underweight” rating in a report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft set a $117.00 price objective on AST SpaceMobile in a research report on Wednesday, April 15th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $79.45.

AST SpaceMobile Trading Up 10.0%

The firm has a market capitalization of $41.09 billion, a P/E ratio of -59.47 and a beta of 2.60. The company has a current ratio of 18.47, a quick ratio of 18.37 and a debt-to-equity ratio of 1.11. The stock has a 50 day simple moving average of $85.01 and a 200-day simple moving average of $83.47.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.43). The business had revenue of $14.74 million during the quarter, compared to the consensus estimate of $39.01 million. AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.AST SpaceMobile’s revenue for the quarter was up 1952.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.20) EPS. On average, equities research analysts forecast that AST SpaceMobile, Inc. will post -1.47 EPS for the current fiscal year.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $88.88, for a total value of $3,555,200.00. Following the transaction, the chief technology officer directly owned 4,750 shares in the company, valued at approximately $422,180. This trade represents a 89.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew Martin Johnson sold 5,000 shares of AST SpaceMobile stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $90.25, for a total transaction of $451,250.00. Following the transaction, the chief financial officer owned 565,805 shares in the company, valued at $51,063,901.25. This represents a 0.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 3,100,000 shares of company stock valued at $276,048,350 in the last ninety days. Corporate insiders own 20.89% of the company’s stock.

Hedge Funds Weigh In On AST SpaceMobile

Several institutional investors and hedge funds have recently bought and sold shares of ASTS. AQR Capital Management LLC grew its holdings in AST SpaceMobile by 11.8% during the first quarter. AQR Capital Management LLC now owns 34,548 shares of the company’s stock valued at $786,000 after purchasing an additional 3,642 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in AST SpaceMobile by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,764 shares of the company’s stock worth $1,814,000 after buying an additional 3,515 shares in the last quarter. Millennium Management LLC raised its stake in shares of AST SpaceMobile by 16.1% in the first quarter. Millennium Management LLC now owns 467,626 shares of the company’s stock worth $10,634,000 after buying an additional 64,989 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of AST SpaceMobile by 18.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 325,621 shares of the company’s stock valued at $7,405,000 after buying an additional 49,811 shares in the last quarter. Finally, Strs Ohio purchased a new position in shares of AST SpaceMobile during the 1st quarter valued at about $168,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

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.