AST SpaceMobile, Inc. (NASDAQ:ASTS) Given Consensus Rating of “Reduce” by Brokerages

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) have received an average recommendation of “Reduce” from the twelve brokerages that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $52.9429.

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of AST SpaceMobile in a research note on Tuesday, January 20th. Weiss Ratings restated a “sell (d-)” rating on shares of AST SpaceMobile in a research report on Monday, December 29th. Zacks Research downgraded shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a report on Friday, January 9th. Scotiabank downgraded AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 price objective on the stock. in a report on Wednesday, January 7th. Finally, B. Riley Financial lowered their target price on AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Friday, February 13th.

Insider Buying and Selling

In other AST SpaceMobile news, Director Keith R. Larson acquired 715 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was acquired at an average price of $70.02 per share, for a total transaction of $50,064.30. Following the acquisition, the director directly owned 1,390 shares in the company, valued at $97,327.80. This represents a 105.93% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Shanti B. Gupta sold 10,000 shares of AST SpaceMobile stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $77.34, for a total transaction of $773,400.00. Following the sale, the chief operating officer owned 382,375 shares in the company, valued at approximately $29,572,882.50. This represents a 2.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have acquired 2,015 shares of company stock valued at $149,144 and have sold 2,344,621 shares valued at $163,788,075. 30.90% of the stock is owned by corporate insiders.

Institutional Trading of AST SpaceMobile

A number of institutional investors and hedge funds have recently bought and sold shares of ASTS. Alpine Global Management LLC bought a new position in AST SpaceMobile during the 4th quarter worth $218,000. TRU Independence Asset Management 2 LLC bought a new stake in AST SpaceMobile in the fourth quarter valued at approximately $726,000. Invesco Ltd. increased its position in AST SpaceMobile by 46.7% during the 4th quarter. Invesco Ltd. now owns 312,616 shares of the company’s stock valued at $22,705,000 after purchasing an additional 99,526 shares during the period. Axxcess Wealth Management LLC bought a new position in AST SpaceMobile during the 4th quarter worth approximately $1,050,000. Finally, Corient Private Wealth LLC lifted its position in shares of AST SpaceMobile by 392.5% in the 4th quarter. Corient Private Wealth LLC now owns 36,510 shares of the company’s stock worth $2,652,000 after purchasing an additional 29,097 shares during the period. 60.95% of the stock is currently owned by institutional investors and hedge funds.

AST SpaceMobile Price Performance

AST SpaceMobile stock opened at $79.19 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 9.48 and a current ratio of 9.56. AST SpaceMobile has a 52 week low of $18.22 and a 52 week high of $129.89. The stock has a market capitalization of $29.06 billion, a P/E ratio of -63.86 and a beta of 2.70. The stock has a fifty day moving average of $93.69 and a 200-day moving average of $72.54.

About AST SpaceMobile

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.