Analysts Set AST SpaceMobile, Inc. (NASDAQ:ASTS) Target Price at $63.77

AST SpaceMobile, Inc. (NASDAQ:ASTS) has been given an average recommendation of “Reduce” by the eleven research firms that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $63.7667.

Several research analysts have issued reports on the stock. Scotiabank cut shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 target price for the company. in a report on Wednesday, January 7th. B. Riley Financial cut their price target on shares of AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, February 13th. Zacks Research raised shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of AST SpaceMobile in a research report on Tuesday, January 20th.

AST SpaceMobile Trading Down 6.2%

NASDAQ ASTS opened at $73.82 on Thursday. AST SpaceMobile has a 12 month low of $18.22 and a 12 month high of $129.89. The company has a current ratio of 16.35, a quick ratio of 16.27 and a debt-to-equity ratio of 0.92. The stock’s fifty day moving average price is $94.14 and its 200-day moving average price is $79.20. The stock has a market cap of $28.20 billion, a P/E ratio of -55.92 and a beta of 2.78.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings results on Monday, March 2nd. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.08). AST SpaceMobile had a negative return on equity of 23.02% and a negative net margin of 482.16%.The company had revenue of $54.31 million during the quarter, compared to analysts’ expectations of $39.53 million. The firm’s revenue was up 2731.3% on a year-over-year basis. As a group, equities analysts forecast that AST SpaceMobile will post -0.4 EPS for the current fiscal year.

Insider Activity

In other news, CTO Huiwen Yao sold 40,000 shares of the company’s stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $88.88, for a total transaction of $3,555,200.00. Following the transaction, the chief technology officer directly owned 4,750 shares of the company’s stock, valued at $422,180. This represents a 89.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 30.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AST SpaceMobile

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. REAP Financial Group LLC bought a new stake in shares of AST SpaceMobile in the third quarter worth approximately $25,000. Crewe Advisors LLC purchased a new position in shares of AST SpaceMobile during the fourth quarter valued at approximately $25,000. Laurel Wealth Advisors LLC bought a new position in AST SpaceMobile during the fourth quarter valued at approximately $25,000. Byrne Asset Management LLC purchased a new stake in AST SpaceMobile in the fourth quarter worth approximately $29,000. Finally, Acumen Wealth Advisors LLC bought a new stake in AST SpaceMobile in the 4th quarter worth approximately $29,000. 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.