AST SpaceMobile (NASDAQ:ASTS) Shares Gap Up – Time to Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTSGet Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $101.25, but opened at $107.26. AST SpaceMobile shares last traded at $113.7780, with a volume of 15,247,455 shares trading hands.

More AST SpaceMobile News

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Zacks Research cut shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research report on Friday, January 9th. Scotiabank cut 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 research note on Wednesday, January 7th. Barclays cut shares of AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 price target on the stock. in a research note on Friday, October 17th. Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Monday, December 29th. Finally, B. Riley cut AST SpaceMobile from a “buy” rating to a “neutral” rating in a report on Tuesday. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $45.66.

Check Out Our Latest Analysis on AST SpaceMobile

AST SpaceMobile Trading Up 14.9%

The company has a debt-to-equity ratio of 0.43, a quick ratio of 9.48 and a current ratio of 9.56. The stock has a fifty day moving average of $72.29 and a 200-day moving average of $62.03. The company has a market cap of $42.68 billion, a PE ratio of -93.52 and a beta of 2.70.

AST SpaceMobile (NASDAQ:ASTSGet Free Report) last released its 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 for 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 firm’s revenue for the quarter was up 1236.4% compared to the same quarter last year. During the same quarter last year, the business posted ($1.10) earnings per share. Sell-side analysts anticipate that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Insider Activity

In other AST SpaceMobile news, CTO Huiwen Yao sold 40,000 shares of AST SpaceMobile stock in a transaction 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 directly owned 4,750 shares of the company’s stock, valued at $349,220. The trade was a 89.39% decrease in their position. The sale was disclosed in a document filed 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 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 directly owned 211,379 shares in the company, valued at $14,743,685.25. The trade was a 91.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have purchased 2,765 shares of company stock valued at $187,236 and have sold 2,354,621 shares valued at $164,348,075. Insiders own 30.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. ORG Partners LLC grew its holdings in AST SpaceMobile by 4.2% in the fourth quarter. ORG Partners LLC now owns 3,283 shares of the company’s stock worth $238,000 after purchasing an additional 133 shares during the last quarter. Atlantic Union Bankshares Corp boosted its position in shares of AST SpaceMobile by 30.0% in the 3rd quarter. Atlantic Union Bankshares Corp now owns 781 shares of the company’s stock worth $38,000 after purchasing an additional 180 shares in the last quarter. Sunbelt Securities Inc. grew its stake in AST SpaceMobile by 22.9% during the 3rd quarter. Sunbelt Securities Inc. now owns 1,003 shares of the company’s stock worth $49,000 after buying an additional 187 shares during the last quarter. GAMMA Investing LLC increased its position in AST SpaceMobile by 21.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,355 shares of the company’s stock valued at $67,000 after buying an additional 243 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in AST SpaceMobile by 3.9% in the third quarter. Ameriprise Financial Inc. now owns 6,586 shares of the company’s stock valued at $323,000 after buying an additional 245 shares during the last quarter. 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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