AST SpaceMobile (NASDAQ:ASTS) Shares Gap Up - What's Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $50.70, but opened at $53.01. AST SpaceMobile shares last traded at $49.6390, with a volume of 5,385,301 shares.

Wall Street Analyst Weigh In

• Here's What We Learned From AST SpaceMobile's Q3 Earnings Report

A number of brokerages have issued reports on ASTS. Scotiabank lowered AST SpaceMobile from a "sector perform" rating to a "sector underperform" rating and set a $42.90 price target on the stock. in a research note on Tuesday, October 7th. UBS Group downgraded shares of AST SpaceMobile from a "buy" rating to a "neutral" rating and lowered their target price for the company from $62.00 to $43.00 in a report on Tuesday, September 9th. Roth Capital reaffirmed a "buy" rating on shares of AST SpaceMobile in a research report on Tuesday, August 12th. Barclays lowered shares of AST SpaceMobile from an "overweight" rating to an "underweight" rating and set a $60.00 price target on the stock. in a report on Friday, October 17th. Finally, Zacks Research cut AST SpaceMobile from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 21st. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $45.27.

Read Our Latest Research Report on ASTS

AST SpaceMobile Trading Up 1.0%

• Are These 3 Beaten-Down Stocks Ready to Rebound?

The firm has a market cap of $18.35 billion, a P/E ratio of -41.08 and a beta of 2.46. The business's 50 day moving average is $66.21 and its 200-day moving average is $50.20. 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 (NASDAQ:ASTS - Get Free Report) last released its earnings results on Monday, November 10th. The company reported ($0.45) EPS for the quarter, missing analysts' consensus estimates of ($0.18) by ($0.27). AST SpaceMobile had a negative return on equity of 27.76% and a negative net margin of 1,639.59%.The firm had revenue of $14.74 million for the quarter, compared to the consensus estimate of $22.04 million. During the same period in the prior year, the business earned ($1.10) EPS. The company's quarterly revenue was up 1236.4% on a year-over-year basis. As a group, analysts forecast that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Activity

• The Best AI for Picking Stocks, Ranked by Performance

In related news, CFO Andrew Martin Johnson sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $52.48, for a total value of $1,049,600.00. Following the completion of the transaction, the chief financial officer directly owned 397,485 shares of the company's stock, valued at $20,860,012.80. This represents a 4.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Huiwen Yao sold 40,000 shares of the firm's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $40.58, for a total value of $1,623,200.00. Following the transaction, the chief technology officer directly owned 4,750 shares in the company, valued at $192,755. This trade represents a 89.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 30.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AST SpaceMobile

Several hedge funds have recently modified their holdings of ASTS. Centaurus Financial Inc. raised its stake in shares of AST SpaceMobile by 46.4% in the 3rd quarter. Centaurus Financial Inc. now owns 4,438 shares of the company's stock worth $218,000 after buying an additional 1,407 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in AST SpaceMobile by 22.9% during the third quarter. Sunbelt Securities Inc. now owns 1,003 shares of the company's stock worth $49,000 after acquiring an additional 187 shares during the period. Danske Bank A S bought a new stake in AST SpaceMobile in the third quarter worth about $128,000. Stance Capital LLC acquired a new stake in AST SpaceMobile in the 3rd quarter valued at about $1,703,000. Finally, NewEdge Advisors LLC boosted its position in shares of AST SpaceMobile by 15.0% during the 3rd quarter. NewEdge Advisors LLC now owns 91,138 shares of the company's stock valued at $4,473,000 after purchasing an additional 11,858 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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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