AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 11.8% on Insider Buying Activity

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price was up 11.8% during trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as $63.23 and last traded at $62.40. Approximately 19,566,690 shares changed hands during mid-day trading, an increase of 13% from the average daily volume of 17,314,561 shares. The stock had previously closed at $55.80.

Specifically, Director Adriana Cisneros acquired 10,822 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were bought at an average price of $57.22 per share, for a total transaction of $619,234.84. Following the completion of the purchase, the director directly owned 797,023 shares of the company’s stock, valued at approximately $45,605,656.06. This trade represents a 1.38% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

Several research analysts have recently weighed in on ASTS shares. Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Wednesday, June 24th. UBS Group started coverage on shares of AST SpaceMobile in a research report on Wednesday. They issued a “buy” rating for the company. Roth Capital reaffirmed a “buy” rating and set a $108.00 target price on shares of AST SpaceMobile in a research report on Tuesday, May 12th. Piper Sandler cut their price target on AST SpaceMobile from $100.00 to $98.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Finally, Deutsche Bank Aktiengesellschaft set a $93.00 price target on AST SpaceMobile in a report on Wednesday, August 12th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $86.58.

Key AST SpaceMobile News

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

• Positive Sentiment: Berenberg began covering AST SpaceMobile with a Buy rating and a $92 price target, implying substantial upside from the prior close. The bank also initiated Buy ratings on several other space companies, helping drive a broader sector rebound. Berenberg initiates AST SpaceMobile coverage
• Positive Sentiment: Director Adriana Cisneros bought 10,822 ASTS shares for approximately $619,000 at an average price of $57.22, increasing her holdings to 797,023 shares. The open-market purchase may signal confidence in the company’s long-term prospects. SEC insider transaction filing
• Positive Sentiment: Investors continue to focus on AST SpaceMobile’s potential to provide cellular broadband directly to ordinary smartphones through partnerships with mobile operators. Japan’s progress toward a 700 MHz framework for the Rakuten-AST network could further expand its international opportunity. Japan backs Rakuten-AST network
• Neutral Sentiment: Berenberg estimates the broader space economy could approach $1 trillion by 2030, supporting a potential institutional re-rating of satellite, launch and space-data companies. The estimate is a sector-level theme rather than a near-term ASTS financial update. Berenberg launches space-sector coverage
• Negative Sentiment: AST SpaceMobile’s latest quarter missed expectations: the company reported a $0.77-per-share loss versus a projected $0.32 loss and revenue of $31.52 million versus $34.53 million expected. Possible BlueBird manufacturing delays and reliance on third-party launch providers could slow satellite deployment and postpone revenue growth. AST SpaceMobile earnings and manufacturing-delay analysis

AST SpaceMobile Stock Performance

The company has a market capitalization of $24.28 billion, a price-to-earnings ratio of -29.16 and a beta of 2.74. The company has a debt-to-equity ratio of 1.24, a quick ratio of 12.90 and a current ratio of 13.05. The company’s fifty day simple moving average is $67.38 and its two-hundred day simple moving average is $80.96.

AST SpaceMobile (NASDAQ:ASTS) last issued its earnings results on Monday, August 10th. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.45). The company had revenue of $31.52 million during the quarter, compared to analyst estimates of $34.53 million. AST SpaceMobile had a negative net margin of 536.66% and a negative return on equity of 22.88%. During the same quarter last year, the company posted ($0.41) EPS. Equities research analysts predict that AST SpaceMobile, Inc. will post -1.95 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ASTS. AQR Capital Management LLC increased its position in AST SpaceMobile by 11.8% in the first quarter. AQR Capital Management LLC now owns 34,548 shares of the company’s stock worth $786,000 after buying an additional 3,642 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of AST SpaceMobile by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 79,764 shares of the company’s stock worth $1,814,000 after acquiring an additional 3,515 shares during the last quarter. Millennium Management LLC grew its position in shares of AST SpaceMobile by 16.1% during the first quarter. Millennium Management LLC now owns 467,626 shares of the company’s stock worth $10,634,000 after acquiring an additional 64,989 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of AST SpaceMobile by 18.1% in 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 worth $7,405,000 after acquiring an additional 49,811 shares during the period. Finally, Strs Ohio acquired a new stake in shares of AST SpaceMobile in the 1st quarter worth about $168,000. Institutional investors and hedge funds 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.