AST SpaceMobile (NASDAQ:ASTS) Trading 8.3% Higher – Still a Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price rose 8.3% on Wednesday . The stock traded as high as $131.20 and last traded at $129.60. Approximately 34,802,459 shares changed hands during trading, an increase of 103% from the average daily volume of 17,131,365 shares. The stock had previously closed at $119.70.

AST SpaceMobile News Summary

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

• Positive Sentiment: SpaceX’s public IPO filing has lifted sentiment across the space sector, with ASTS benefiting from the broad “space stocks” rally. Space stocks surge after SpaceX IPO S-1 filing
• Positive Sentiment: ASTS is being viewed as a leading pure-play on direct-to-cell satellite connectivity, and recent coverage highlighted its partnerships with major carriers plus a planned mid-June satellite launch as tangible growth catalysts. AST SpaceMobile’s June Launch Plan Puts Its 2026 Satellite Goal Back in Focus
• Positive Sentiment: Momentum traders and Reddit-focused investors are also crowding into the name, amplifying the move in a stock that already has elevated short interest. Social Buzz: Wallstreetbets Stocks Mostly Advancing Pre-Bell Wednesday; Intuitive Machines, Rocket Lab to Open Higher

Analyst Ratings Changes

Several analysts recently commented on ASTS shares. UBS Group reduced their price target on shares of AST SpaceMobile from $85.00 to $80.00 and set a “neutral” rating for the company in a research report on Tuesday, May 12th. New Street Research started coverage on shares of AST SpaceMobile in a research report on Wednesday, May 13th. They issued a “neutral” rating and a $80.00 price target for the company. Wall Street Zen downgraded shares of AST SpaceMobile from a “sell” rating to a “strong sell” rating in a research report on Wednesday, April 15th. Deutsche Bank Aktiengesellschaft set a $117.00 price target on shares of AST SpaceMobile in a research report on Wednesday, April 15th. Finally, B. Riley Financial upped their price target on shares of AST SpaceMobile from $75.00 to $85.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $79.45.

AST SpaceMobile Stock Performance

The firm’s 50-day moving average is $86.05 and its 200 day moving average is $84.15. The stock has a market cap of $50.30 billion, a PE ratio of -72.81 and a beta of 2.60. The company has a debt-to-equity ratio of 1.11, a quick ratio of 18.37 and a current ratio of 18.47.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.66) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.43). The firm had revenue of $14.74 million during the quarter, compared to analyst estimates of $39.01 million. AST SpaceMobile had a negative net margin of 573.67% and a negative return on equity of 24.87%. The business’s quarterly revenue was up 1952.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.20) earnings per share. As a group, research analysts anticipate that AST SpaceMobile, Inc. will post -1.47 EPS for the current year.

Insider Activity

In other AST SpaceMobile news, CFO Andrew Martin Johnson sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $90.25, for a total value of $451,250.00. Following the transaction, the chief financial officer directly owned 565,805 shares of the company’s stock, valued at approximately $51,063,901.25. The trade was a 0.88% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Huiwen Yao sold 40,000 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $88.88, for a total transaction of $3,555,200.00. Following the completion of the transaction, the chief technology officer directly owned 4,750 shares in the company, valued at $422,180. This represents a 89.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 3,100,000 shares of company stock valued at $276,048,350. 20.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AST SpaceMobile

Several institutional investors have recently bought and sold shares of the company. Calton & Associates Inc. increased its stake in AST SpaceMobile by 0.8% in the 4th quarter. Calton & Associates Inc. now owns 13,579 shares of the company’s stock valued at $986,000 after buying an additional 104 shares during the period. Investmark Advisory Group LLC increased its stake in AST SpaceMobile by 2.7% in the 4th quarter. Investmark Advisory Group LLC now owns 4,645 shares of the company’s stock valued at $337,000 after buying an additional 120 shares during the period. ORG Partners LLC increased its stake in AST SpaceMobile by 4.2% in the 4th quarter. ORG Partners LLC now owns 3,283 shares of the company’s stock valued at $238,000 after buying an additional 133 shares during the period. Atlantic Union Bankshares Corp grew its stake in shares of AST SpaceMobile by 18.2% during the 4th quarter. Atlantic Union Bankshares Corp now owns 923 shares of the company’s stock worth $67,000 after purchasing an additional 142 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of AST SpaceMobile by 39.0% during the 4th quarter. Larson Financial Group LLC now owns 513 shares of the company’s stock worth $37,000 after purchasing an additional 144 shares during the period. 60.95% of the stock is owned by institutional investors and hedge funds.

About AST SpaceMobile

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.