AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report)’s share price dropped 2.7% on Wednesday . The stock traded as low as $66.45 and last traded at $68.38. Approximately 12,084,673 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 18,213,127 shares. The stock had previously closed at $70.31.
Key Stories Impacting AST SpaceMobile
Here are the key news stories impacting AST SpaceMobile this week:
- Positive Sentiment: AST SpaceMobile successfully launched its BlueBird 11, 12 and 13 satellites into orbit. The company said the milestone advances its planned space-based cellular broadband network, with beta services expected later this year. AST SpaceMobile Announces Successful Orbital Launch of BlueBirds 11, 12, and 13
- Positive Sentiment: The launch reinforces ASTS’s execution progress and could expand future network capacity, supporting the company’s long-term revenue ambitions. Retail sentiment also improved after SpaceX’s earnings, while short interest declined to approximately 19.9% of the public float from 21.7% the prior week. ASTS Short Interest Drops Below 20% Ahead of BlueBird Launch
- Neutral Sentiment: Broader space-stock trading remained tied to SpaceX developments. SpaceX’s plans involving satellite communications and AI generated investor interest across the sector, but also highlighted the competitive environment ASTS faces. These Stocks Are Making Moves Today, Thanks to SpaceX
- Negative Sentiment: Investors are questioning whether ASTS’s valuation already reflects substantial future growth after the stock’s roughly 14-fold three-year gain. Execution, competition, and the need to convert satellite deployment into commercial revenue remain key risks. Does AST SpaceMobile Trade At A Premium After Its Satellite Launch?
- Negative Sentiment: A law firm announced an investigation into potential claims on behalf of ASTS investors, adding a headline risk even though the notice did not provide specific allegations or establish wrongdoing. Pomerantz Law Firm Investigates Claims on Behalf of AST SpaceMobile Investors
Analysts Set New Price Targets
A number of research firms have recently weighed in on ASTS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Wednesday, June 24th. William Blair restated a “market perform” rating on shares of AST SpaceMobile in a research note on Friday, May 29th. New Street Research set a $106.00 target price on AST SpaceMobile in a research report on Friday, May 29th. Scotiabank raised AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $50.80 price target for the company in a research note on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft cut AST SpaceMobile from a “buy” rating to a “hold” rating and lowered their price target for the company from $117.00 to $106.00 in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $87.60.
AST SpaceMobile Price Performance
The company has a debt-to-equity ratio of 1.11, a current ratio of 18.47 and a quick ratio of 18.37. The stock has a market capitalization of $26.54 billion, a P/E ratio of -38.42 and a beta of 2.75. The stock’s fifty day moving average is $79.33 and its 200-day moving average is $86.88.
AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last posted its earnings results on Monday, May 11th. The company reported ($0.66) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.43). AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The company had revenue of $14.73 million for the quarter, compared to the consensus estimate of $39.01 million. During the same quarter last year, the business earned ($0.20) earnings per share. AST SpaceMobile’s quarterly revenue was up 1952.2% on a year-over-year basis. On average, equities analysts anticipate that AST SpaceMobile, Inc. will post -1.38 earnings per share for the current year.
Insider Activity
In related news, Director Julio A. Torres sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $76.34, for a total value of $1,145,100.00. Following the completion of the sale, the director directly owned 43,239 shares in the company, valued at approximately $3,300,865.26. The trade was a 25.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Huiwen Yao sold 40,000 shares of the company’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 value of $3,854,800.00. Following the sale, the chief technology officer directly owned 34,750 shares of the company’s stock, valued at $3,348,857.50. The trade was a 53.51% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 105,809 shares of company stock valued at $9,748,492. Insiders own 20.89% of the company’s stock.
Institutional Trading of AST SpaceMobile
Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC grew its stake in AST SpaceMobile by 11.8% in the 1st quarter. AQR Capital Management LLC now owns 34,548 shares of the company’s stock valued at $786,000 after buying an additional 3,642 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in 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 valued at $1,814,000 after acquiring an additional 3,515 shares during the period. Millennium Management LLC boosted its holdings in AST SpaceMobile by 16.1% during the first quarter. Millennium Management LLC now owns 467,626 shares of the company’s stock valued at $10,634,000 after acquiring an additional 64,989 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of AST SpaceMobile by 18.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 325,621 shares of the company’s stock valued at $7,405,000 after purchasing an additional 49,811 shares during the last quarter. Finally, Strs Ohio acquired a new stake in shares of AST SpaceMobile in the first quarter valued at about $168,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.
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.
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