Key Points
- Director purchase: AST SpaceMobile director Keith Larson bought 675 shares on Dec. 10 at an average price of $72.71 for a total of $49,079.25, a transaction disclosed in an SEC filing and described as an ∞ increase in his ownership.
- Q3 results missed: The company reported Q3 EPS of ($0.45) vs. a consensus ($0.18) miss and revenue of $14.74M (vs. $22.04M est.), while showing a deeply negative net margin (~-1,639.6%) and negative return on equity (~27.8%), though revenue rose ~1,236% year-over-year.
- Market picture and analyst view: Shares traded around $81.83 (50-day MA $70.48, 200-day MA $53.99) with a 12-month range of $17.50–$102.79 and a market cap ~ $30.03B; analysts' consensus is a Hold with a $45.66 average target.
AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) Director Keith Larson acquired 675 shares of the company's stock in a transaction on Wednesday, December 10th. The stock was acquired at an average price of $72.71 per share, for a total transaction of $49,079.25. Following the purchase, the director directly owned 675 shares of the company's stock, valued at approximately $49,079.25. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
AST SpaceMobile Stock Performance
Shares of NASDAQ ASTS traded up $2.78 during midday trading on Thursday, hitting $81.83. 3,169,834 shares of the company's stock were exchanged, compared to its average volume of 12,007,302. The company has a quick ratio of 9.48, a current ratio of 9.56 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $30.03 billion, a PE ratio of -66.12 and a beta of 2.76. AST SpaceMobile, Inc. has a 12 month low of $17.50 and a 12 month high of $102.79. The company's 50 day moving average price is $70.48 and its 200 day moving average price is $53.99.
AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.27). AST SpaceMobile had a negative net margin of 1,639.59% and a negative return on equity of 27.76%. The business had revenue of $14.74 million for the quarter, compared to analyst estimates of $22.04 million. During the same period in the prior year, the business earned ($1.10) EPS. The company's revenue for the quarter was up 1236.4% compared to the same quarter last year. As a group, analysts predict that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.
Hedge Funds Weigh In On AST SpaceMobile
Several hedge funds have recently bought and sold shares of the company. REAP Financial Group LLC acquired a new position in shares of AST SpaceMobile in the 3rd quarter valued at approximately $25,000. Atlantic Union Bankshares Corp acquired a new stake in shares of AST SpaceMobile during the 2nd quarter worth approximately $28,000. Harvest Fund Management Co. Ltd bought a new position in AST SpaceMobile in the third quarter valued at approximately $29,000. Geneos Wealth Management Inc. raised its position in AST SpaceMobile by 225.0% during the third quarter. Geneos Wealth Management Inc. now owns 650 shares of the company's stock valued at $32,000 after purchasing an additional 450 shares in the last quarter. Finally, Binnacle Investments Inc bought a new stake in AST SpaceMobile during the second quarter worth $33,000. 60.95% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
ASTS has been the topic of a number of research reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of AST SpaceMobile in a research note on Monday. UBS Group downgraded AST SpaceMobile from a "buy" rating to a "neutral" rating and decreased their target price for the company from $62.00 to $43.00 in a research report on Tuesday, September 9th. Barclays lowered AST SpaceMobile from an "overweight" rating to an "underweight" rating and set a $60.00 target price on the stock. in a research note on Friday, October 17th. Scotiabank upgraded AST SpaceMobile from a "sector underperform" rating to a "sector perform" rating and set a $45.60 price target for the company in a research note on Monday, November 24th. Finally, William Blair began coverage on AST SpaceMobile in a report on Thursday, August 21st. They issued a "market perform" rating on the stock. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, AST SpaceMobile presently has an average rating of "Hold" and a consensus target price of $45.66.
View Our Latest Analysis on AST SpaceMobile
About AST SpaceMobile
(
Get Free Report)
AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.
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