AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 8.7% – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares shot up 8.7% during trading on Wednesday. The stock traded as high as $36.91 and last traded at $36.62. Approximately 17,355,970 shares changed hands during trading, an increase of 3% from the average session volume of 16,860,746 shares. The stock had previously closed at $33.69.

AST SpaceMobile News Summary

These are some of the ASTS news items that stood out recently:

• Positive Sentiment: AST SpaceMobile outlined plans for its Blacklift rocket, which could carry up to five BlueBird satellites and reduce reliance on SpaceX and potentially lower launch costs. The company’s plan anticipates use from late 2028, so benefits remain several years away. Article
• Neutral Sentiment: Firefly Aerospace reported sharply higher quarterly revenue, with its growth supported in part by a $1.3 billion AST SpaceMobile deal. This highlights activity between the companies, but does not remove execution and funding risks. Article
• Negative Sentiment: Analysts’ implied fair-value estimate was reported to have fallen from $74.28 to $66.18 amid concerns including launch timing, financing needs and competition. Article

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Bank of America reiterated a “neutral” rating on shares of AST SpaceMobile in a report on Tuesday. UBS Group lowered their target price on AST SpaceMobile from $78.00 to $43.00 and set a “neutral” rating for the company in a report on Tuesday. Piper Sandler downgraded AST SpaceMobile from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $98.00 to $54.00 in a research report on Tuesday, October 13th. Cantor Fitzgerald reiterated an “overweight” rating on shares of AST SpaceMobile in a research note on Monday. Finally, Deutsche Bank raised shares of AST SpaceMobile from a “hold” rating to a “buy” rating and set a $93.00 price target on the stock in a research report on Monday, October 12th. Six equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $75.47.

AST SpaceMobile Stock Down 5.5%

The business has a 50-day moving average price of $50.29 and a two-hundred day moving average price of $74.53. The company has a quick ratio of 12.90, a current ratio of 13.65 and a debt-to-equity ratio of 1.89. The firm has a market cap of $12.69 billion, a PE ratio of -15.31 and a beta of 2.88.

AST SpaceMobile (NASDAQ:ASTS) last released its earnings results on Monday, November 9th. The company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.41) by ($0.03). The company had revenue of $42.32 million for the quarter, compared to analyst estimates of $45.73 million. AST SpaceMobile had a negative return on equity of 22.00% and a negative net margin of 439.71%. The company’s revenue for the quarter was up 187.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.45) earnings per share. On average, equities research analysts expect that AST SpaceMobile, Inc. will post -1.95 EPS for the current year.

Insider Transactions at AST SpaceMobile

In related news, COO Shanti B. Gupta sold 12,000 shares of AST SpaceMobile stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $58.89, for a total value of $706,680.00. Following the completion of the transaction, the chief operating officer owned 462,980 shares in the company, valued at $27,264,892.20. The trade was a 2.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Huiwen Yao sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $58.93, for a total transaction of $2,357,200.00. Following the transaction, the chief technology officer owned 34,750 shares of the company’s stock, valued at $2,047,817.50. This trade represents a 53.51% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 20.89% of the company’s stock.

Institutional Investors Weigh In On AST SpaceMobile

A number of large investors have recently modified their holdings of ASTS. Bank of America Corp DE grew its stake in shares of AST SpaceMobile by 140.3% during the first quarter. Bank of America Corp DE now owns 1,644,246 shares of the company’s stock worth $136,259,000 after purchasing an additional 960,045 shares in the last quarter. Voya Investment Management LLC raised its stake in AST SpaceMobile by 32.4% in the third quarter. Voya Investment Management LLC now owns 1,376,109 shares of the company’s stock valued at $80,998,000 after buying an additional 336,502 shares in the last quarter. First Trust Advisors LP lifted its holdings in AST SpaceMobile by 14.3% during the 1st quarter. First Trust Advisors LP now owns 1,316,852 shares of the company’s stock worth $109,128,000 after buying an additional 164,303 shares during the last quarter. Tidal Investments LLC lifted its holdings in AST SpaceMobile by 9,876.8% during the 2nd quarter. Tidal Investments LLC now owns 1,049,061 shares of the company’s stock worth $93,220,000 after buying an additional 1,038,546 shares during the last quarter. Finally, Tema ETFs LLC lifted its holdings in AST SpaceMobile by 109,486.8% during the 2nd quarter. Tema ETFs LLC now owns 1,003,815 shares of the company’s stock worth $89,199,000 after buying an additional 1,002,899 shares during the last quarter. 60.95% of the stock is owned by hedge funds and other institutional investors.

About AST SpaceMobile

AST SpaceMobile, Inc. develops a space-based cellular broadband network designed to connect directly with standard mobile phones, without requiring users to purchase specialized satellite devices. Its planned services include voice calls, text messaging and mobile broadband, delivered through partnerships with mobile network operators and integrated with their existing networks. The company is developing and deploying its BlueBird satellite system to provide coverage in areas where terrestrial cellular networks are unavailable or limited.