AST SpaceMobile, Inc. (NASDAQ:ASTS) Receives $45.66 Average Price Target from Analysts

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) have been given a consensus rating of “Reduce” by the eleven research firms that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $45.6571.

ASTS has been the subject of a number of recent analyst reports. Scotiabank cut AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 price objective for the company. in a research report on Wednesday, January 7th. Zacks Research cut AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research note on Friday, January 9th. Barclays cut shares of AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 price objective for the company. in a research report on Friday, October 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Monday, December 29th. Finally, B. Riley cut shares of AST SpaceMobile from a “buy” rating to a “neutral” rating in a research note on Tuesday.

AST SpaceMobile Stock Performance

Shares of ASTS opened at $95.22 on Friday. The firm has a 50-day moving average of $71.57 and a 200-day moving average of $61.75. AST SpaceMobile has a one year low of $17.50 and a one year high of $102.79. The company has a market cap of $34.95 billion, a PE ratio of -76.79 and a beta of 2.70. The company has a debt-to-equity ratio of 0.43, a current ratio of 9.56 and a quick ratio of 9.48.

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

Insider Activity

In other news, CTO Huiwen Yao sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $73.52, for a total transaction of $2,940,800.00. Following the completion of the sale, the chief technology officer owned 4,750 shares in the company, valued at $349,220. The trade was a 89.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total value of $159,631,314.75. Following the transaction, the insider owned 211,379 shares in the company, valued at approximately $14,743,685.25. This trade represents a 91.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders acquired 2,765 shares of company stock valued at $187,236 and sold 2,354,621 shares valued at $164,348,075. 30.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ASTS. REAP Financial Group LLC bought a new stake in shares of AST SpaceMobile in the third quarter valued at about $25,000. Atlantic Union Bankshares Corp acquired a new stake in AST SpaceMobile in the 2nd quarter worth about $28,000. Byrne Asset Management LLC bought a new stake in AST SpaceMobile in the 4th quarter valued at about $29,000. Harvest Fund Management Co. Ltd acquired a new position in shares of AST SpaceMobile during the 3rd quarter worth approximately $29,000. Finally, Geneos Wealth Management Inc. grew its position in shares of AST SpaceMobile by 225.0% during the 3rd quarter. Geneos Wealth Management Inc. now owns 650 shares of the company’s stock worth $32,000 after purchasing an additional 450 shares in the last quarter. Institutional investors own 60.95% of the company’s stock.

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.