AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 0.4% Following Earnings Beat

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s stock price rose 0.4% during mid-day trading on Monday following a better than expected earnings announcement. The company traded as high as $29.10 and last traded at $27.23. Approximately 5,720,684 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 11,679,445 shares. The stock had previously closed at $27.11.

The company reported ($0.12) EPS for the quarter, beating analysts' consensus estimates of ($0.18) by $0.06.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ASTS. Scotiabank cut their price objective on shares of AST SpaceMobile from $44.70 to $40.20 and set a "sector outperform" rating on the stock in a research report on Friday, January 24th. Cantor Fitzgerald upgraded AST SpaceMobile to a "strong-buy" rating in a research note on Tuesday, February 25th. Finally, UBS Group increased their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a report on Friday, November 15th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $40.04.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ASTS. Amalgamated Bank increased its position in AST SpaceMobile by 17.4% during the third quarter. Amalgamated Bank now owns 4,578 shares of the company's stock worth $120,000 after acquiring an additional 679 shares during the period. Xponance Inc. increased its holdings in shares of AST SpaceMobile by 8.7% during the fourth quarter. Xponance Inc. now owns 9,676 shares of the company's stock worth $204,000 after purchasing an additional 772 shares during the period. Hollencrest Capital Management bought a new stake in shares of AST SpaceMobile in the third quarter valued at approximately $26,000. CIBC Private Wealth Group LLC grew its position in AST SpaceMobile by 106.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock worth $53,000 after buying an additional 1,222 shares in the last quarter. Finally, Americana Partners LLC increased its stake in AST SpaceMobile by 5.2% during the 4th quarter. Americana Partners LLC now owns 27,047 shares of the company's stock worth $571,000 after acquiring an additional 1,326 shares during the period. Institutional investors own 60.95% of the company's stock.

AST SpaceMobile Trading Down 5.5 %

The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $7.42 billion, a P/E ratio of -12.08 and a beta of 1.62. The business has a 50-day moving average price of $24.21 and a two-hundred day moving average price of $25.53.

AST SpaceMobile Company Profile

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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