Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) have received an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $45.34.
ASTS has been the topic of several recent research reports. Bank of America initiated coverage on shares of AST SpaceMobile in a research note on Wednesday. They set a “neutral” rating and a $55.00 target price on the stock. UBS Group lifted their target price on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Roth Capital assumed coverage on shares of AST SpaceMobile in a research report on Thursday, April 10th. They set a “buy” rating and a $42.00 price target on the stock. B. Riley reissued a “buy” rating and set a $44.00 price target (up previously from $36.00) on shares of AST SpaceMobile in a research report on Monday, June 16th. Finally, Scotiabank reissued a “sector perform” rating and set a $45.40 price target on shares of AST SpaceMobile in a research report on Monday.
Read Our Latest Report on AST SpaceMobile
AST SpaceMobile Price Performance
AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The company had revenue of $0.72 million during the quarter, compared to analysts’ expectations of $3.85 million. AST SpaceMobile had a negative return on equity of 23.56% and a negative net margin of 7,033.22%. Equities research analysts forecast that AST SpaceMobile will post -0.4 EPS for the current year.
Insiders Place Their Bets
In related news, CTO Huiwen Yao sold 55,000 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $26.82, for a total transaction of $1,475,100.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Shanti B. Gupta sold 10,000 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $41.84, for a total transaction of $418,400.00. Following the completion of the transaction, the chief operating officer now owns 305,667 shares in the company, valued at $12,789,107.28. This represents a 3.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 184,250 shares of company stock worth $6,146,750 over the last three months. Company insiders own 34.15% of the company’s stock.
Institutional Investors Weigh In On AST SpaceMobile
Hedge funds and other institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC increased its position in shares of AST SpaceMobile by 1,992.5% in the first quarter. Voya Investment Management LLC now owns 843,554 shares of the company’s stock valued at $19,182,000 after buying an additional 803,240 shares in the last quarter. Strs Ohio purchased a new position in shares of AST SpaceMobile in the first quarter valued at $168,000. Belpointe Asset Management LLC purchased a new position in shares of AST SpaceMobile in the first quarter valued at $900,000. Intech Investment Management LLC increased its position in shares of AST SpaceMobile by 36.2% in the first quarter. Intech Investment Management LLC now owns 84,069 shares of the company’s stock valued at $1,912,000 after buying an additional 22,358 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in AST SpaceMobile by 18.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 325,621 shares of the company’s stock worth $7,405,000 after purchasing an additional 49,811 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.
About AST SpaceMobile
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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