AST SpaceMobile (NASDAQ:ASTS) Trading 21.4% Higher – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS) was up 21.4% on Monday . The company traded as high as $86.95 and last traded at $86.77. Approximately 32,977,994 shares traded hands during trading, an increase of 76% from the average session volume of 18,774,666 shares. The stock had previously closed at $71.45.

Trending Headlines about AST SpaceMobile

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

• Positive Sentiment: Japan is reportedly preparing about 150 billion yen ($926 million) in subsidies for a Rakuten-led consortium working with AST SpaceMobile, raising hopes for a large direct-to-mobile satellite network project in Japan. ASTS Stock Eyes Comeback After 4-Week Slide: Japan Filing Confirms Rakuten-Led Pick For Nearly $1B Push By SpaceX Rival
• Positive Sentiment: Multiple reports said AST SpaceMobile and Rakuten are in talks to form a joint venture for a satellite communications network in Japan, with government support aimed at reducing reliance on foreign providers like Starlink. Rakuten satellite project to receive up to $912 million in Japan govt grant
• Positive Sentiment: ASTS also benefited from broader enthusiasm around the space sector after Rocket Lab’s deal activity lifted investor appetite for satellite and launch companies. Rocket Lab Stock Surges as Iridium Deal Feeds Market Appetite for Space
• Neutral Sentiment: Recent commentary highlighted that AST SpaceMobile has been attracting investor attention and outpacing the market, but this was mostly a reaction to the Japan partnership news rather than a separate fundamental update. Why AST SpaceMobile, Inc. (ASTS) Outpaced the Stock Market Today
• Negative Sentiment: Some reports note ASTS had been on a multi-week slide before the latest rebound, so investors may still be cautious about whether the rally can hold. ASTS Stock Eyes Comeback After 4-Week Slide: Japan Filing Confirms Rakuten-Led Pick For Nearly $1B Push By SpaceX Rival

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ASTS. William Blair reaffirmed a “market perform” rating on shares of AST SpaceMobile in a research report on Friday, May 29th. Zacks Research upgraded shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Roth Mkm reissued a “buy” rating and set a $108.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft cut shares of AST SpaceMobile from a “buy” rating to a “hold” rating and decreased their target price for the stock from $117.00 to $106.00 in a report on Friday, May 29th. Finally, UBS Group dropped their target price on shares of AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $85.09.

AST SpaceMobile Price Performance

The company has a market capitalization of $33.43 billion, a P/E ratio of -48.24 and a beta of 2.70. The company has a debt-to-equity ratio of 1.11, a current ratio of 18.47 and a quick ratio of 18.37. The firm’s 50-day moving average is $87.16 and its 200-day moving average is $89.40.

AST SpaceMobile (NASDAQ:ASTS) last released its quarterly earnings results 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). AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.The business had revenue of $14.73 million during the quarter, compared to the consensus estimate of $39.01 million. During the same quarter in the previous year, the business posted ($0.20) earnings per share. The firm’s revenue was up 1952.2% on a year-over-year basis. Analysts predict that AST SpaceMobile, Inc. will post -1.47 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Hiroshi Mikitani sold 1,350,000 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $86.22, for a total transaction of $116,397,000.00. Following the sale, the insider directly owned 27,980,155 shares in the company, valued at $2,412,448,964.10. This trade represents a 4.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew Martin Johnson sold 45,809 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $93.81, for a total value of $4,297,342.29. Following the completion of the transaction, the chief financial officer owned 503,619 shares in the company, valued at $47,244,498.39. The trade was a 8.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,145,809 shares of company stock worth $280,645,292 in the last quarter. 20.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASTS. Calton & Associates Inc. boosted its position in shares of AST SpaceMobile by 0.8% during the fourth quarter. Calton & Associates Inc. now owns 13,579 shares of the company’s stock worth $986,000 after acquiring an additional 104 shares during the last quarter. Investmark Advisory Group LLC lifted its stake in AST SpaceMobile by 2.7% in the 4th quarter. Investmark Advisory Group LLC now owns 4,645 shares of the company’s stock worth $337,000 after purchasing an additional 120 shares in the last quarter. ORG Partners LLC lifted its stake in AST SpaceMobile by 4.2% in the 4th quarter. ORG Partners LLC now owns 3,283 shares of the company’s stock worth $238,000 after purchasing an additional 133 shares in the last quarter. Atlantic Union Bankshares Corp boosted its holdings in shares of AST SpaceMobile by 18.2% during the 4th quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company’s stock valued at $67,000 after purchasing an additional 142 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in shares of AST SpaceMobile by 39.0% during the fourth quarter. Larson Financial Group LLC now owns 513 shares of the company’s stock valued at $37,000 after purchasing an additional 144 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors.

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.