AST SpaceMobile (NASDAQ:ASTS) Shares Gap Up – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $83.67, but opened at $87.82. AST SpaceMobile shares last traded at $86.0010, with a volume of 6,571,603 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Zacks Research raised shares of AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. UBS Group dropped their price objective on shares of AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft set a $117.00 price objective on shares of AST SpaceMobile in a research note on Wednesday, April 15th. Wall Street Zen downgraded shares of AST SpaceMobile from a “sell” rating to a “strong sell” rating in a research note on Wednesday, April 15th. Finally, B. Riley Financial upped their target price on shares of AST SpaceMobile from $75.00 to $85.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $79.45.

AST SpaceMobile Trading Up 1.3%

The company has a market cap of $32.39 billion, a P/E ratio of -47.44 and a beta of 2.60. The stock’s 50-day moving average is $84.65 and its two-hundred day moving average is $82.98. The company has a debt-to-equity ratio of 1.11, a current ratio of 18.47 and a quick ratio of 18.37.

AST SpaceMobile (NASDAQ:ASTS) last issued 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). The company had revenue of $14.74 million for the quarter, compared to the consensus estimate of $39.01 million. AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The firm’s revenue for the quarter was up 1952.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.20) EPS. As a group, equities research analysts predict that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current fiscal year.

Insider Activity at AST SpaceMobile

In related news, major shareholder Hiroshi Mikitani sold 1,690,000 shares of the stock in a transaction that occurred on 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 owned 29,330,155 shares in the company, valued at $2,681,362,770.10. This represents a 5.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Julio A. Torres sold 15,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $76.34, for a total transaction of $1,145,100.00. Following the transaction, the director owned 43,239 shares in the company, valued at approximately $3,300,865.26. This trade represents a 25.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 3,095,000 shares of company stock worth $275,597,100 over the last quarter. Company insiders own 20.89% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC lifted its position in AST SpaceMobile by 16,350.0% during the first quarter. Cornerstone Planning Group LLC now owns 329 shares of the company’s stock valued at $27,000 after purchasing an additional 327 shares during the period. Crewe Advisors LLC bought a new position in AST SpaceMobile in the fourth quarter worth approximately $25,000. Laurel Wealth Advisors LLC bought a new stake in shares of AST SpaceMobile during the 4th quarter valued at $25,000. Portus Wealth Advisors LLC bought a new stake in shares of AST SpaceMobile during the 1st quarter valued at $30,000. Finally, Advocate Investing Services LLC bought a new stake in shares of AST SpaceMobile during the 1st quarter valued at $31,000. 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.