AST SpaceMobile, Inc. (NASDAQ:ASTS) Receives $85.98 Consensus Target Price from Brokerages

AST SpaceMobile, Inc. (NASDAQ:ASTS) has been given a consensus rating of “Hold” by the twelve brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $85.9778.

ASTS has been the subject of a number of recent research reports. Piper Sandler lowered their price objective on shares of AST SpaceMobile from $100.00 to $98.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. Roth Capital reiterated a “buy” rating and set a $108.00 price target on shares of AST SpaceMobile in a research report on Tuesday, May 12th. William Blair reiterated a “market perform” rating on shares of AST SpaceMobile in a research note on Friday, May 29th. Cantor Fitzgerald increased their price objective on shares of AST SpaceMobile from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Tuesday, August 11th. Finally, UBS Group cut their price objective on shares of AST SpaceMobile from $80.00 to $78.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 11th.

AST SpaceMobile Stock Performance

Shares of ASTS opened at $58.05 on Friday. The stock has a market capitalization of $22.59 billion, a PE ratio of -27.13 and a beta of 2.75. The business’s fifty day moving average price is $68.00 and its 200 day moving average price is $81.65. The company has a debt-to-equity ratio of 1.24, a current ratio of 13.05 and a quick ratio of 12.90. AST SpaceMobile has a 12-month low of $36.08 and a 12-month high of $133.86.

AST SpaceMobile (NASDAQ:ASTS) last released its earnings results on Monday, August 10th. The company reported ($0.77) earnings per share 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 for the quarter, compared to the consensus estimate of $34.53 million. During the same quarter in the previous year, the firm earned ($0.41) EPS. Equities research analysts forecast that AST SpaceMobile will post -1.95 EPS for the current year.

Insider Buying and Selling

In other news, CTO Huiwen Yao sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $96.37, for a total transaction of $3,854,800.00. Following the completion of the transaction, the chief technology officer directly owned 34,750 shares in the company, valued at approximately $3,348,857.50. The trade was a 53.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew Martin Johnson sold 45,809 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $93.81, for a total value of $4,297,342.29. Following the completion of the transaction, the chief financial officer directly owned 503,619 shares of the company’s stock, valued at $47,244,498.39. This trade represents a 8.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 20.89% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System lifted its holdings in AST SpaceMobile by 11,947.9% in the second quarter. California State Teachers Retirement System now owns 31,526,551 shares of the company’s stock worth $2,801,449,000 after purchasing an additional 31,264,875 shares during the period. Vanguard Group Inc. increased its stake in AST SpaceMobile by 7.9% during the 4th quarter. Vanguard Group Inc. now owns 21,488,180 shares of the company’s stock valued at $1,560,687,000 after buying an additional 1,568,292 shares during the period. Vodafone Ventures Ltd bought a new stake in shares of AST SpaceMobile during the 4th quarter worth about $397,413,000. Morgan Stanley raised its position in shares of AST SpaceMobile by 44.0% during the 4th quarter. Morgan Stanley now owns 4,661,551 shares of the company’s stock worth $338,569,000 after buying an additional 1,425,199 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of AST SpaceMobile by 9.8% in the 4th quarter. Geode Capital Management LLC now owns 4,522,549 shares of the company’s stock worth $328,749,000 after acquiring an additional 402,505 shares during the period. 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.