AST SpaceMobile, Inc. (NASDAQ:ASTS) Receives $45.66 Average Target Price from Analysts

AST SpaceMobile, Inc. (NASDAQ:ASTS) has received a consensus rating of “Reduce” from the twelve analysts that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $45.6571.

ASTS has been the subject of several analyst reports. Scotiabank lowered AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 target price for the company. in a research report on Wednesday, January 7th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of AST SpaceMobile in a research note on Tuesday, January 20th. Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Monday, December 29th. Zacks Research lowered AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research note on Friday, January 9th. Finally, Barclays cut AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 target price on the stock. in a report on Friday, October 17th.

AST SpaceMobile Trading Down 5.7%

ASTS opened at $96.27 on Wednesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 9.56 and a quick ratio of 9.48. AST SpaceMobile has a fifty-two week low of $18.22 and a fifty-two week high of $129.89. The company’s 50 day moving average price is $90.48 and its two-hundred day moving average price is $69.65. The firm has a market capitalization of $35.33 billion, a price-to-earnings ratio of -77.64 and a beta of 2.70.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.27). AST SpaceMobile had a negative return on equity of 27.76% and a negative net margin of 1,639.59%.The business had revenue of $14.74 million for the quarter, compared to analyst estimates of $22.04 million. During the same quarter last year, the firm posted ($1.10) EPS. AST SpaceMobile’s revenue for the quarter was up 1236.4% on a year-over-year basis. As a group, research analysts predict that AST SpaceMobile will post -0.4 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Maya Bernal sold 6,000 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $73.76, for a total value of $442,560.00. Following the transaction, the chief accounting officer owned 122,486 shares in the company, valued at $9,034,567.36. The trade was a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the sale, the insider directly owned 211,379 shares in the company, valued at $14,743,685.25. This trade represents a 91.54% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders purchased 2,765 shares of company stock worth $187,236 and sold 2,354,621 shares worth $164,348,075. Company insiders own 30.90% of the company’s stock.

Institutional Investors Weigh In On AST SpaceMobile

Several institutional investors and hedge funds have recently made changes to their positions in ASTS. REAP Financial Group LLC acquired a new position in AST SpaceMobile in the third quarter valued at approximately $25,000. Crewe Advisors LLC acquired a new position in shares of AST SpaceMobile during the 4th quarter valued at $25,000. Laurel Wealth Advisors LLC bought a new position in AST SpaceMobile during the fourth quarter worth $25,000. Atlantic Union Bankshares Corp acquired a new stake in AST SpaceMobile in the second quarter worth $28,000. Finally, Byrne Asset Management LLC bought a new stake in AST SpaceMobile in the fourth quarter valued at $29,000. Institutional investors own 60.95% of the company’s stock.

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.