AST SpaceMobile, Inc. (NASDAQ:ASTS) Receives $45.27 Average Price Target from Brokerages

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) have been given an average recommendation of “Reduce” by the eleven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $45.2714.

Several research firms have recently issued reports on ASTS. William Blair began coverage on AST SpaceMobile in a research note on Thursday, August 21st. They issued a “market perform” rating for the company. Roth Capital restated a “buy” rating on shares of AST SpaceMobile in a research report on Tuesday, August 12th. UBS Group downgraded AST SpaceMobile from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $62.00 to $43.00 in a research report on Tuesday, September 9th. Scotiabank downgraded AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $42.90 price target for the company. in a research report on Tuesday, October 7th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a report on Wednesday, October 8th.

Insider Activity

In other AST SpaceMobile news, CFO Andrew Martin Johnson sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $52.48, for a total value of $1,049,600.00. Following the completion of the sale, the chief financial officer owned 397,485 shares of the company’s stock, valued at $20,860,012.80. This trade represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Huiwen Yao sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total transaction of $1,623,200.00. Following the completion of the sale, the chief technology officer directly owned 4,750 shares of the company’s stock, valued at approximately $192,755. The trade was a 89.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 30.90% of the stock is currently owned by company insiders.

Institutional Trading of AST SpaceMobile

Several institutional investors and hedge funds have recently modified their holdings of ASTS. ORG Partners LLC raised its position in AST SpaceMobile by 5.2% during the 3rd quarter. ORG Partners LLC now owns 3,150 shares of the company’s stock valued at $155,000 after purchasing an additional 155 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of AST SpaceMobile by 21.9% in the third quarter. GAMMA Investing LLC now owns 1,355 shares of the company’s stock valued at $67,000 after acquiring an additional 243 shares in the last quarter. Flagship Private Wealth LLC raised its holdings in shares of AST SpaceMobile by 2.8% in the second quarter. Flagship Private Wealth LLC now owns 9,106 shares of the company’s stock valued at $426,000 after acquiring an additional 250 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in shares of AST SpaceMobile by 0.5% in the 2nd quarter. SBI Securities Co. Ltd. now owns 56,619 shares of the company’s stock valued at $2,646,000 after purchasing an additional 268 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of AST SpaceMobile by 25.2% in the 2nd quarter. Signaturefd LLC now owns 1,826 shares of the company’s stock valued at $85,000 after purchasing an additional 367 shares in the last quarter. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Price Performance

ASTS stock opened at $80.25 on Monday. AST SpaceMobile has a 52 week low of $17.50 and a 52 week high of $102.79. The company has a quick ratio of 8.23, a current ratio of 8.23 and a debt-to-equity ratio of 0.42. The company has a fifty day simple moving average of $60.89 and a two-hundred day simple moving average of $46.58. The firm has a market capitalization of $28.77 billion, a P/E ratio of -42.46 and a beta of 2.45.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings results on Monday, August 11th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.22). AST SpaceMobile had a negative net margin of 7,213.90% and a negative return on equity of 26.81%. The business had revenue of $1.16 million during the quarter, compared to the consensus estimate of $6.37 million. Analysts anticipate that AST SpaceMobile will post -0.4 earnings per share for the current fiscal year.

AST SpaceMobile Company Profile

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.