AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 1.8% – Time to Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS) was up 1.8% during trading on Friday . The stock traded as high as $57.81 and last traded at $56.52. Approximately 4,222,701 shares were traded during trading, a decline of 65% from the average daily volume of 12,020,429 shares. The stock had previously closed at $55.52.

Analysts Set New Price Targets

Several research analysts have weighed in on ASTS shares. Zacks Research lowered AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Barclays cut shares of AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 target price for the company. in a research note on Friday, October 17th. William Blair assumed coverage on shares of AST SpaceMobile in a research report on Thursday, August 21st. They set a “market perform” rating on the stock. UBS Group cut shares of AST SpaceMobile from a “buy” rating to a “neutral” rating and cut their price target for the company from $62.00 to $43.00 in a research note on Tuesday, September 9th. Finally, Scotiabank upgraded shares of AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $45.60 price objective on the stock in a research note on Monday. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $45.66.

AST SpaceMobile Stock Up 1.8%

The firm has a market cap of $20.74 billion, a P/E ratio of -45.58 and a beta of 2.46. The firm’s fifty day moving average is $67.61 and its 200 day moving average is $51.22. The company has a debt-to-equity ratio of 0.43, a quick ratio of 9.48 and a current ratio of 9.56.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $14.74 million for the quarter, compared to analyst estimates of $22.04 million. During the same quarter last year, the business earned ($1.10) earnings per share. The company’s revenue was up 1236.4% on a year-over-year basis. As a group, equities research analysts anticipate that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Activity at AST SpaceMobile

In related news, CTO Huiwen Yao sold 40,000 shares of the business’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total value of $1,623,200.00. Following the completion of the sale, the chief technology officer directly owned 4,750 shares in the company, valued at $192,755. The trade was a 89.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Adriana Cisneros acquired 750 shares of the firm’s stock in a transaction on Thursday, November 20th. The stock was purchased at an average cost of $50.79 per share, for a total transaction of $38,092.50. Following the completion of the acquisition, the director owned 784,077 shares in the company, valued at approximately $39,823,270.83. This represents a 0.10% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 30.90% of the company’s stock.

Hedge Funds Weigh In On AST SpaceMobile

A number of hedge funds have recently bought and sold shares of the business. Rakuten Group Inc. acquired a new stake in AST SpaceMobile during the first quarter worth approximately $705,398,000. Jump Financial LLC bought a new stake in shares of AST SpaceMobile during the 1st quarter valued at $14,750,000. Y Intercept Hong Kong Ltd bought a new stake in shares of AST SpaceMobile during the 2nd quarter valued at $21,754,000. State of New Jersey Common Pension Fund D grew its holdings in shares of AST SpaceMobile by 14.0% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 77,159 shares of the company’s stock worth $3,606,000 after purchasing an additional 9,448 shares in the last quarter. Finally, Sender Co & Partners Inc. increased its position in shares of AST SpaceMobile by 44.8% in the first quarter. Sender Co & Partners Inc. now owns 295,376 shares of the company’s stock worth $6,717,000 after purchasing an additional 91,352 shares during the period. 60.95% of the stock is owned by institutional investors.

About AST SpaceMobile

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.