AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 8.7% – Time to Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares rose 8.7% during trading on Wednesday. The company traded as high as $36.91 and last traded at $36.62. 17,355,970 shares traded hands during mid-day trading, an increase of 3% from the average daily volume of 16,860,746 shares. The stock had previously closed at $33.69.

Latest AST SpaceMobile News

Here’s some of the latest news about ASTS:

• Positive Sentiment: The company is targeting satellite broadband service by year-end 2026 and aims to expand BlueBird production, with a goal of 45 satellites in orbit by mid-2027. These milestones could support future commercial revenue if achieved. ASTS Q3 Earnings Call Highlights Service Rollout and Launch Plans
• Neutral Sentiment: AST SpaceMobile introduced its Blacklift rocket project, which could help address dependence on outside launch providers, but developing the rocket may add costs and execution risk before it delivers benefits. AST SpaceMobile Has a New Rocket Plan, But Its Cash-Burn Problem Isn’t Going Away
• Negative Sentiment: Law firms are publicizing a securities class action and a November 13 lead-plaintiff deadline for investors who bought shares during the stated class period. The allegations are not findings of wrongdoing, but the litigation adds a reputational and legal overhang. AST SpaceMobile Investor Class Action Deadline Notice

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Deutsche Bank raised AST SpaceMobile from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research note on Monday, October 12th. Royal Bank Of Canada lowered shares of AST SpaceMobile to a “sector perform” rating in a report on Friday, October 2nd. William Blair reiterated a “market perform” rating on shares of AST SpaceMobile in a research report on Wednesday. Scotiabank raised shares of AST SpaceMobile from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $50.80 to $55.70 in a report on Friday, October 23rd. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of AST SpaceMobile in a report on Monday. Six equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $75.47.

AST SpaceMobile Stock Up 8.7%

The company has a current ratio of 13.05, a quick ratio of 12.90 and a debt-to-equity ratio of 1.24. The stock has a market cap of $14.25 billion, a price-to-earnings ratio of -17.19 and a beta of 2.88. The stock’s 50-day moving average price is $51.23 and its 200-day moving average price is $75.27.

AST SpaceMobile (NASDAQ:ASTS) last released its earnings results on Monday, November 9th. The company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.03). The company had revenue of $42.32 million for the quarter, compared to analyst estimates of $45.73 million. AST SpaceMobile had a negative net margin of 439.71% and a negative return on equity of 21.29%. The firm’s revenue was up 187.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.45) EPS. On average, sell-side analysts expect that AST SpaceMobile, Inc. will post -1.91 earnings per share for the current year.

Insider Activity at AST SpaceMobile

In related news, COO Shanti Gupta sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $58.89, for a total transaction of $706,680.00. Following the transaction, the chief operating officer directly owned 462,980 shares of the company’s stock, valued at approximately $27,264,892.20. This represents a 2.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Adriana Cisneros purchased 10,822 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were purchased at an average cost of $57.22 per share, for a total transaction of $619,234.84. Following the completion of the purchase, the director owned 797,023 shares in the company, valued at $45,605,656.06. This trade represents a 1.38% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 20.89% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AST SpaceMobile

A number of institutional investors have recently modified their holdings of the company. Hollencrest Capital Management lifted its holdings in shares of AST SpaceMobile by 11.7% in the 1st quarter. Hollencrest Capital Management now owns 1,592 shares of the company’s stock worth $132,000 after purchasing an additional 167 shares in the last quarter. Byrne Asset Management LLC increased its stake in AST SpaceMobile by 17.0% during the 3rd quarter. Byrne Asset Management LLC now owns 1,170 shares of the company’s stock valued at $67,000 after purchasing an additional 170 shares in the last quarter. TD Waterhouse Canada Inc. increased its stake in AST SpaceMobile by 15.5% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,404 shares of the company’s stock valued at $121,000 after purchasing an additional 188 shares in the last quarter. MGO One Seven LLC raised its holdings in AST SpaceMobile by 1.9% during the third quarter. MGO One Seven LLC now owns 12,536 shares of the company’s stock worth $738,000 after buying an additional 239 shares during the last quarter. Finally, Salvus Wealth Management LLC raised its holdings in AST SpaceMobile by 0.4% during the third quarter. Salvus Wealth Management LLC now owns 70,662 shares of the company’s stock worth $4,159,000 after buying an additional 263 shares during the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.

AST SpaceMobile Company Profile

AST SpaceMobile, Inc. develops a space-based cellular broadband network designed to connect directly with standard mobile phones, without requiring users to purchase specialized satellite devices. Its planned services include voice calls, text messaging and mobile broadband, delivered through partnerships with mobile network operators and integrated with their existing networks. The company is developing and deploying its BlueBird satellite system to provide coverage in areas where terrestrial cellular networks are unavailable or limited.