AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 14.8% – Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS) was up 14.8% during trading on Friday . The company traded as high as $75.40 and last traded at $75.05. Approximately 22,279,658 shares traded hands during trading, an increase of 43% from the average daily volume of 15,576,716 shares. The stock had previously closed at $65.35.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ASTS shares. Deutsche Bank Aktiengesellschaft set a $117.00 price target on shares of AST SpaceMobile in a research report on Wednesday, April 15th. B. Riley Financial dropped their price objective on shares of AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, February 13th. Barclays boosted their target price on shares of AST SpaceMobile from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Thursday, April 9th. Zacks Research upgraded shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a report on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $82.51.

AST SpaceMobile Stock Up 14.8%

The company has a market cap of $28.67 billion, a PE ratio of -56.86 and a beta of 2.60. The company has a fifty day moving average of $85.85 and a two-hundred day moving average of $82.88. The company has a debt-to-equity ratio of 0.92, a quick ratio of 16.27 and a current ratio of 16.35.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings data on Monday, March 2nd. The company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.18) by ($0.08). AST SpaceMobile had a negative return on equity of 23.02% and a negative net margin of 482.16%.The firm had revenue of $54.31 million for the quarter, compared to analysts’ expectations of $39.53 million. The firm’s revenue for the quarter was up 2731.3% compared to the same quarter last year. As a group, analysts anticipate that AST SpaceMobile, Inc. will post -0.99 earnings per share for the current fiscal year.

Insider Transactions at AST SpaceMobile

In related news, major shareholder Hiroshi Mikitani sold 1,690,000 shares of the company’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $91.42, for a total transaction of $154,499,800.00. Following the transaction, the insider directly owned 29,330,155 shares in the company, valued at approximately $2,681,362,770.10. This represents a 5.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $88.88, for a total transaction of $3,555,200.00. Following the completion of the sale, the chief technology officer directly owned 4,750 shares in the company, valued at $422,180. This trade represents a 89.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 3,080,000 shares of company stock valued at $274,452,000. 30.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AST SpaceMobile

Hedge funds and other institutional investors have recently modified their holdings of the business. REAP Financial Group LLC bought a new stake in shares of AST SpaceMobile during the 3rd quarter worth approximately $25,000. Crewe Advisors LLC bought a new position in AST SpaceMobile in the 4th quarter valued at $25,000. Laurel Wealth Advisors LLC purchased a new stake in AST SpaceMobile in the fourth quarter worth $25,000. Cornerstone Planning Group LLC increased its stake in AST SpaceMobile by 16,350.0% in the first quarter. Cornerstone Planning Group LLC now owns 329 shares of the company’s stock worth $27,000 after purchasing an additional 327 shares during the period. Finally, Byrne Asset Management LLC bought a new stake in shares of AST SpaceMobile during the fourth quarter worth $29,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

AST SpaceMobile Company Profile

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.