AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 14.3% – Here’s Why

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTSGet Free Report) rose 14.3% during trading on Friday . The company traded as high as $120.80 and last traded at $115.77. Approximately 33,332,203 shares changed hands during trading, an increase of 75% from the average daily volume of 19,008,715 shares. The stock had previously closed at $101.25.

Key Stories Impacting AST SpaceMobile

Here are the key news stories impacting AST SpaceMobile this week:

Wall Street Analyst Weigh In

ASTS has been the subject of several analyst reports. Barclays lowered AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 price objective for the company. in a research note on Friday, October 17th. Zacks Research cut AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research report on Friday, January 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Monday, December 29th. B. Riley downgraded AST SpaceMobile from a “buy” rating to a “neutral” rating in a research note on Tuesday. Finally, Scotiabank lowered shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 target price for the company. in a report on Wednesday, January 7th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $45.66.

Read Our Latest Stock Report on ASTS

AST SpaceMobile Price Performance

The company has a debt-to-equity ratio of 0.43, a current ratio of 9.56 and a quick ratio of 9.48. The firm has a 50-day moving average of $72.29 and a 200-day moving average of $62.03. The stock has a market cap of $42.49 billion, a PE ratio of -93.36 and a beta of 2.70.

AST SpaceMobile (NASDAQ:ASTSGet Free Report) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.27). The business had revenue of $14.74 million during the quarter, compared to the consensus estimate of $22.04 million. AST SpaceMobile had a negative return on equity of 27.76% and a negative net margin of 1,639.59%.The company’s revenue for the quarter was up 1236.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.10) earnings per share. Research analysts predict that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Insider Buying and Selling

In other AST SpaceMobile news, CAO Maya Bernal sold 6,000 shares of the business’s stock in a transaction on Friday, December 5th. The shares were sold at an average price of $73.76, for a total value of $442,560.00. Following the sale, the chief accounting officer owned 122,486 shares in the company, valued at $9,034,567.36. The trade was a 4.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Huiwen Yao sold 40,000 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $73.52, for a total value of $2,940,800.00. Following the transaction, the chief technology officer owned 4,750 shares of the company’s stock, valued at approximately $349,220. The trade was a 89.39% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders purchased 2,765 shares of company stock worth $187,236 and sold 2,354,621 shares worth $164,348,075. 30.90% of the stock is currently owned by insiders.

Institutional Trading of AST SpaceMobile

Large investors have recently added to or reduced their stakes in the company. REAP Financial Group LLC bought a new position in shares of AST SpaceMobile during the 3rd quarter valued at approximately $25,000. Crewe Advisors LLC purchased a new stake in AST SpaceMobile during the fourth quarter valued at $25,000. Atlantic Union Bankshares Corp purchased a new stake in AST SpaceMobile during the second quarter valued at $28,000. Byrne Asset Management LLC bought a new position in AST SpaceMobile during the fourth quarter valued at $29,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of AST SpaceMobile in the 3rd quarter worth $29,000. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Company Profile

(Get Free Report)

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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