AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 1.8% – Still a Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price traded up 1.8% during mid-day trading on Tuesday . The company traded as high as $72.17 and last traded at $68.82. Approximately 9,321,995 shares were traded during trading, a decline of 49% from the average daily volume of 18,359,285 shares. The stock had previously closed at $67.58.

AST SpaceMobile News Summary

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

• Positive Sentiment: AST SpaceMobile continues to attract bullish long-term attention because analysts and commentators see upside if its satellite-to-smartphone network expands as planned, with some coverage framing ASTS as one of the more compelling alternative space plays. 3 Space Stocks That Could Outshine SpaceX After Its IPO
• Positive Sentiment: Fresh New Zealand gateway approval is a small but important operational step that could help AST SpaceMobile connect satellites with telecom networks and support voice, data, and video service to standard smartphones. ASTS Stock Slips Overnight Despite Fresh New Zealand Gateway Approval For AST SpaceMobile
• Positive Sentiment: Retail interest remains strong after the selloff, with ASTS tied for the top beaten-down space stock pick among traders, and one report noting a large institutional ASTS position ahead of the next BlueBird satellite launch. SPCX Vs RKLB Vs ASTS Vs PL: Which Space Stock Are Retail Traders Buying After The Selloff?
• Neutral Sentiment: Analyst-focused coverage is still modeling meaningful future value for ASTS by 2028, but that upside depends on successful execution of its satellite network and commercialization timeline. What AST SpaceMobile Could Be Worth in 2028, According to Analysts
• Negative Sentiment: AST SpaceMobile shares fell sharply in the latest session, reflecting a broader risk-off move in space stocks and investor concern that recent gains may be harder to sustain without stronger operating results. AST SpaceMobile, Inc. (ASTS) Declines More Than Market: Some Information for Investors
• Negative Sentiment: Coverage also highlighted mounting losses, cash burn, and repeated EPS misses, which are keeping Wall Street cautious even as ASTS advances its launch and partnership plans. AST SpaceMobile’s Next Launches Could Decide Whether Its Rally Regains Orbit
• Negative Sentiment: Sector-wide pressure from a China rocket milestone and higher oil prices also weighed on ASTS alongside peers, adding to the recent pullback in space-related stocks. SpaceX and AST SpaceMobile Fall 5%, Rocket Lab Sheds 4% as China Rocket Milestone and Oil Spike Hit Space Stocks

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wall Street Zen cut AST SpaceMobile from a “sell” rating to a “strong sell” rating in a research note on Wednesday, April 15th. Barclays lifted their price target on AST SpaceMobile from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Thursday, April 9th. New Street Research set a $106.00 price target on shares of AST SpaceMobile in a research note on Friday, May 29th. B. Riley Financial increased their price objective 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. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $85.09.

AST SpaceMobile Price Performance

The firm has a 50-day moving average of $87.31 and a 200 day moving average of $89.59. The company has a market capitalization of $26.71 billion, a PE ratio of -38.66 and a beta of 2.69. 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 earnings results 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 business had revenue of $14.73 million during the quarter, compared to analysts’ expectations of $39.01 million. AST SpaceMobile had a negative return on equity of 24.87% and a negative net margin of 573.67%.AST SpaceMobile’s quarterly revenue was up 1952.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.20) EPS. As a group, research analysts anticipate that AST SpaceMobile, Inc. will post -1.47 earnings per share for the current fiscal year.

Insider Activity at AST SpaceMobile

In related news, 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 sale, the chief technology officer owned 34,750 shares of the company’s stock, valued at $3,348,857.50. The trade was a 53.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Andrew Martin Johnson sold 45,809 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $93.81, for a total value of $4,297,342.29. Following the sale, the chief financial officer owned 503,619 shares of the company’s stock, valued at approximately $47,244,498.39. This trade represents a 8.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,455,809 shares of company stock worth $126,145,492. Company insiders own 20.89% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of AST SpaceMobile by 7.9% during the 4th quarter. Vanguard Group Inc. now owns 21,488,180 shares of the company’s stock valued at $1,560,687,000 after purchasing an additional 1,568,292 shares during the last quarter. Vodafone Ventures Ltd bought a new stake in AST SpaceMobile during the fourth quarter valued at approximately $397,413,000. Morgan Stanley grew its position in AST SpaceMobile by 44.0% during the fourth quarter. Morgan Stanley now owns 4,661,551 shares of the company’s stock valued at $338,569,000 after buying an additional 1,425,199 shares during the period. Geode Capital Management LLC increased its holdings in AST SpaceMobile by 9.8% during the fourth quarter. Geode Capital Management LLC now owns 4,522,549 shares of the company’s stock valued at $328,749,000 after buying an additional 402,505 shares during the last quarter. Finally, State Street Corp increased its holdings in AST SpaceMobile by 9.7% during the fourth quarter. State Street Corp now owns 3,951,685 shares of the company’s stock valued at $287,011,000 after buying an additional 350,690 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.