AST SpaceMobile (NASDAQ:ASTS) Trading Up 5.9% – Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price traded up 5.9% during trading on Tuesday . The stock traded as high as $77.69 and last traded at $77.4840. Approximately 10,046,173 shares traded hands during trading, a decline of 46% from the average session volume of 18,472,375 shares. The stock had previously closed at $73.19.

More AST SpaceMobile News

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

• Positive Sentiment: AST SpaceMobile announced that BlueBird satellites 11, 12, and 13 are targeted to launch in the first half of August, reinforcing execution progress on its space-based cellular broadband network. AST SpaceMobile Announces BlueBirds 11, 12, and 13 Orbital Launch in the First Half of August
• Positive Sentiment: Some commentary remains optimistic on ASTS’s long-term addressable market, with one analysis arguing its direct-to-cell technology and commercial agreements could support major upside if it can scale successfully. AST SpaceMobile: My Bet On The New Telecommunications Order
• Neutral Sentiment: A speculative article suggested AST SpaceMobile could eventually reach $100, but this is a forecast rather than a concrete business development. Prediction: AST SpaceMobile Will Hit $100 on This Date
• Negative Sentiment: Stocktwits reported that a CEO-linked entity, AA Gables 2, filed to sell nearly $183 million of AST SpaceMobile shares, which can raise dilution and supply concerns for investors. ASTS Stock Slides Overnight: CEO-Linked Entity Files To Sell Shares Worth Nearly $183M
• Negative Sentiment: Jim Cramer said AST SpaceMobile is “on the miss cycle,” adding to concerns that the company may still be facing execution or expectation risks after recent weakness. Jim Cramer on AST SpaceMobile: “This One Right Now Is on the Miss Cycle”
• Negative Sentiment: Recent market coverage highlighted that ASTS had already suffered a sizable decline over the prior session and recent weeks, reflecting elevated volatility and investor caution. AST SpaceMobile, Inc. (ASTS) Suffers a Larger Drop Than the General Market: Key Insights

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Zacks Research upgraded AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. B. Riley Financial increased their price target on shares of AST SpaceMobile from $75.00 to $85.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Wall Street Zen lowered shares of AST SpaceMobile from a “sell” rating to a “strong sell” rating in a research report on Wednesday, April 15th. Barclays increased their target price on shares of AST SpaceMobile from $60.00 to $65.00 and gave the company an “underweight” rating in a research report on Thursday, April 9th. Finally, William Blair reaffirmed a “market perform” rating on shares of AST SpaceMobile in a report on Friday, May 29th. One investment analyst has rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, AST SpaceMobile has a consensus rating of “Reduce” and an average target price of $81.33.

AST SpaceMobile Price Performance

The firm has a market capitalization of $29.62 billion, a PE ratio of -42.59 and a beta of 2.70. The company has a debt-to-equity ratio of 1.11, a quick ratio of 18.37 and a current ratio of 18.47. The business’s 50 day moving average is $89.00 and its two-hundred day moving average is $89.26.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.43). AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.The company had revenue of $14.73 million for the quarter, compared to analysts’ expectations of $39.01 million. During the same period last year, the company posted ($0.20) EPS. The business’s revenue for the quarter was up 1952.2% on a year-over-year basis. Equities research analysts anticipate that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current fiscal year.

Insider Activity at AST SpaceMobile

In related news, major shareholder Hiroshi Mikitani sold 1,350,000 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $86.22, for a total transaction of $116,397,000.00. Following the transaction, the insider directly owned 27,980,155 shares of the company’s stock, valued at approximately $2,412,448,964.10. This trade represents a 4.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Julio A. Torres sold 15,000 shares of AST SpaceMobile stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $76.34, for a total transaction of $1,145,100.00. Following the transaction, the director directly owned 43,239 shares in the company, valued at $3,300,865.26. This trade represents a 25.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 3,145,809 shares of company stock valued at $280,645,292. Company insiders own 20.89% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ASTS. AQR Capital Management LLC raised its holdings in shares of 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 acquiring an additional 3,642 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 valued at $1,814,000 after acquiring an additional 3,515 shares in the last quarter. Millennium Management LLC increased its position in AST SpaceMobile by 16.1% during the 1st quarter. Millennium Management LLC now owns 467,626 shares of the company’s stock valued at $10,634,000 after purchasing an additional 64,989 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in 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 purchasing an additional 49,811 shares during the period. Finally, Strs Ohio bought a new position in AST SpaceMobile in the 1st quarter worth $168,000. Institutional investors own 60.95% of the company’s stock.

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.