AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report)’s stock price was down 3.6% on Tuesday after an insider sold shares in the company. The company traded as low as $85.50 and last traded at $88.71. Approximately 26,737,228 shares changed hands during trading, an increase of 50% from the average daily volume of 17,789,693 shares. The stock had previously closed at $92.06.
Specifically, CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction 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 completion of the transaction, the chief technology officer directly owned 34,750 shares in the company, valued at approximately $3,348,857.50. This trade represents a 53.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on ASTS. Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Friday, March 27th. Zacks Research upgraded shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. New Street Research set a $106.00 price objective on shares of AST SpaceMobile in a report on Friday, May 29th. Roth Mkm reissued a “buy” rating and issued a $108.00 target price on shares of AST SpaceMobile in a report on Tuesday, May 12th. Finally, Barclays lifted their price target on AST SpaceMobile from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Thursday, April 9th. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $81.33.
Key Stories Impacting AST SpaceMobile
Here are the key news stories impacting AST SpaceMobile this week:
- Positive Sentiment: AST SpaceMobile confirmed the June 17 launch of BlueBird 8, 9, and 10 aboard a SpaceX Falcon 9 rocket, reinforcing progress toward expanding its satellite constellation and improving data speeds. AST SpaceMobile Advances Satellite Network Expansion as BlueBird Launch Date Confirmed (ASTS)
- Positive Sentiment: The launch news is fueling investor optimism that ASTS can stay on schedule with its network buildout, which is a key milestone for future commercial adoption and revenue potential. AST SpaceMobile Set to Launch Next-Generation BlueBird Satellites
- Neutral Sentiment: Short-interest data showed no meaningful change in reported shares shorted, so it does not appear to be a major driver of the move. AST SpaceMobile Set to Launch Next-Generation BlueBird Satellites
- Negative Sentiment: Barclays reiterated a sell rating, and broader analyst commentary continues to show a consensus of Reduce, which can pressure the stock despite the launch catalyst. Barclays Sticks to Its Sell Rating for AST SpaceMobile (ASTS)
- Negative Sentiment: Recent insider selling by CTO Huiwen Yao, while pre-planned, may still weigh on sentiment because it adds to concerns about near-term upside. Insider Selling: AST SpaceMobile (NASDAQ:ASTS) CTO Sells 40,000 Shares of Stock
- Negative Sentiment: Analyst articles also highlighted risks tied to AST SpaceMobile’s reliance on SpaceX for launches, which could raise strategic and pricing concerns over time. How SpaceX Reliance Shapes AST SpaceMobile Risk Pricing And Valuation
AST SpaceMobile Trading Down 3.6%
The company has a debt-to-equity ratio of 1.11, a quick ratio of 18.37 and a current ratio of 18.47. The stock has a market capitalization of $34.43 billion, a PE ratio of -49.84 and a beta of 2.70. The business’s 50-day moving average is $89.69 and its two-hundred day moving average is $87.16.
AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.66) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $14.74 million during the quarter, compared to analysts’ expectations of $39.01 million. During the same period in the prior year, the firm posted ($0.20) EPS. AST SpaceMobile’s revenue for the quarter was up 1952.2% compared to the same quarter last year. As a group, equities research analysts anticipate that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC lifted its stake in AST SpaceMobile by 1.1% in the 1st quarter. NewEdge Advisors LLC now owns 93,836 shares of the company’s stock valued at $7,776,000 after buying an additional 1,036 shares in the last quarter. Optiver Holding B.V. acquired a new position in AST SpaceMobile in the 1st quarter valued at about $445,000. Foguth Wealth Management LLC. lifted its holdings in AST SpaceMobile by 23.5% in the 1st quarter. Foguth Wealth Management LLC. now owns 10,099 shares of the company’s stock valued at $837,000 after purchasing an additional 1,923 shares in the last quarter. Western Wealth Management LLC boosted its stake in shares of AST SpaceMobile by 105.3% during the 1st quarter. Western Wealth Management LLC now owns 9,961 shares of the company’s stock worth $825,000 after purchasing an additional 5,108 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of AST SpaceMobile by 140.3% during the 1st quarter. Bank of America Corp DE now owns 1,644,246 shares of the company’s stock worth $136,259,000 after purchasing an additional 960,045 shares during the last quarter. 60.95% of the stock is 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.
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