AST SpaceMobile (NASDAQ:ASTS) Shares Up 6.1% – Should You Buy?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) shot up 6.1% on Tuesday . The stock traded as high as $67.20 and last traded at $66.12. 12,002,074 shares traded hands during trading, a decline of 30% from the average daily volume of 17,176,238 shares. The stock had previously closed at $62.31.

Analysts Set New Price Targets

Several research firms have recently issued reports on ASTS. UBS Group assumed coverage on shares of AST SpaceMobile in a report on Wednesday, September 2nd. They set a “buy” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Wednesday, June 24th. Cantor Fitzgerald upped their price target on shares of AST SpaceMobile from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Tuesday, August 11th. William Blair reaffirmed a “market perform” rating on shares of AST SpaceMobile in a report on Friday, May 29th. Finally, Piper Sandler dropped their price objective on shares of AST SpaceMobile from $100.00 to $98.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, AST SpaceMobile presently has an average rating of “Hold” and a consensus price target of $86.58.

AST SpaceMobile Trading Down 4.0%

The company has a market cap of $23.32 billion, a price-to-earnings ratio of -28.00 and a beta of 2.74. The company has a quick ratio of 12.90, a current ratio of 13.05 and a debt-to-equity ratio of 1.24. The company’s 50-day moving average is $65.59 and its 200 day moving average is $80.09.

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

Insider Transactions at AST SpaceMobile

In other news, Director Adriana Cisneros acquired 10,822 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was purchased at an average cost of $57.22 per share, for a total transaction of $619,234.84. Following the completion of the transaction, the director owned 797,023 shares in the company, valued at approximately $45,605,656.06. This trade represents a 1.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 20.89% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ASTS. Sequoia Financial Advisors LLC increased its stake in AST SpaceMobile by 21.0% during the second quarter. Sequoia Financial Advisors LLC now owns 5,309 shares of the company’s stock worth $472,000 after purchasing an additional 920 shares during the period. Tidal Investments LLC boosted its stake in shares of AST SpaceMobile by 9,876.8% in the second quarter. Tidal Investments LLC now owns 1,049,061 shares of the company’s stock valued at $93,220,000 after purchasing an additional 1,038,546 shares during the period. IPG Investment Advisors LLC boosted its stake in shares of AST SpaceMobile by 15.9% in the second quarter. IPG Investment Advisors LLC now owns 8,660 shares of the company’s stock valued at $770,000 after purchasing an additional 1,185 shares during the period. MCF Advisors LLC grew its holdings in shares of AST SpaceMobile by 365.1% in the second quarter. MCF Advisors LLC now owns 1,372 shares of the company’s stock valued at $122,000 after purchasing an additional 1,077 shares in the last quarter. Finally, National Pension Service grew its holdings in shares of AST SpaceMobile by 90.8% in the second quarter. National Pension Service now owns 24,235 shares of the company’s stock valued at $2,154,000 after purchasing an additional 11,536 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

About AST SpaceMobile

AST SpaceMobile, Inc develops a space-based cellular broadband network designed to connect standard, unmodified mobile phones directly to satellites. Its planned service is intended to extend mobile connectivity beyond the coverage of traditional terrestrial wireless networks, including in rural, remote and underserved areas.

The company’s primary technology platform consists of large, low-Earth-orbit satellites known as BlueBirds. AST SpaceMobile is developing these satellites to provide voice, messaging and broadband data services through partnerships with mobile network operators, using existing cellular devices and spectrum where permitted.

Founded in 2017 and headquartered in Midland, Texas, AST SpaceMobile was established by Abel Avellan, who serves as its chairman and chief executive officer.