Key Points
- Major shareholder Tower Corp sold 2,288,621 shares of AST SpaceMobile on December 9 at an average price of $69.75 for a total of $159,631,314.75, reducing its direct stake by 91.54% to 211,379 shares valued at about $14.74 million.
- AST SpaceMobile shows volatile fundamentals — a $31.1 billion market cap, a Q3 EPS miss (‑$0.45 vs. est. ‑$0.18) and extremely negative margins despite revenue rising 1,236% year‑over‑year — and analysts’ consensus is a "Hold" with an average target of $45.66.
AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) major shareholder Tower Corp /Ma/ American sold 2,288,621 shares of the company's stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $69.75, for a total transaction of $159,631,314.75. Following the sale, the insider directly owned 211,379 shares of the company's stock, valued at $14,743,685.25. This represents a 91.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
AST SpaceMobile Price Performance
ASTS stock opened at $84.75 on Friday. The company's 50-day moving average price is $70.85 and its two-hundred day moving average price is $54.20. The firm has a market cap of $31.10 billion, a P/E ratio of -68.35 and a beta of 2.76. The company has a quick ratio of 9.48, a current ratio of 9.56 and a debt-to-equity ratio of 0.43. AST SpaceMobile, Inc. has a 12 month low of $17.50 and a 12 month high of $102.79.
AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.45) earnings per share for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.27). The firm had revenue of $14.74 million for the quarter, compared to the consensus estimate of $22.04 million. AST SpaceMobile had a negative return on equity of 27.76% and a negative net margin of 1,639.59%.The business's revenue was up 1236.4% on a year-over-year basis. During the same period last year, the company posted ($1.10) EPS. On average, analysts anticipate that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.
Institutional Investors Weigh In On AST SpaceMobile
Institutional investors have recently added to or reduced their stakes in the business. Rakuten Group Inc. bought a new position in shares of AST SpaceMobile during the first quarter valued at $705,398,000. Vanguard Group Inc. lifted its stake in shares of AST SpaceMobile by 13.4% in the third quarter. Vanguard Group Inc. now owns 19,919,888 shares of the company's stock worth $977,668,000 after acquiring an additional 2,351,539 shares during the period. Clear Street Group Inc. acquired a new stake in AST SpaceMobile during the 3rd quarter valued at approximately $90,129,000. Voya Investment Management LLC boosted its stake in shares of AST SpaceMobile by 1,992.5% in the 1st quarter. Voya Investment Management LLC now owns 843,554 shares of the company's stock valued at $19,182,000 after purchasing an additional 803,240 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in AST SpaceMobile during the 1st quarter worth about $14,750,000. 60.95% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on ASTS. Scotiabank upgraded AST SpaceMobile from a "sector underperform" rating to a "sector perform" rating and set a $45.60 price target on the stock in a research note on Monday, November 24th. UBS Group lowered AST SpaceMobile from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $62.00 to $43.00 in a research note on Tuesday, September 9th. Barclays downgraded AST SpaceMobile from an "overweight" rating to an "underweight" rating and set a $60.00 target price for the company. in a research note on Friday, October 17th. William Blair initiated coverage on shares of AST SpaceMobile in a research note on Thursday, August 21st. They issued a "market perform" rating on the stock. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of AST SpaceMobile in a report on Monday. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $45.66.
View Our Latest Stock 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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