AST SpaceMobile Inc. [NASDAQ: ASTS] price plunged by -0.56 percent to reach at -$0.07. The company report on August 15, 2022 that AST SpaceMobile Provides Second Quarter 2022 Business Update.
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AST SpaceMobile, Inc. (“AST SpaceMobile”) (NASDAQ: ASTS), the company building the first and only space-based cellular broadband network accessible directly by standard mobile phones, today is providing its business update for the second quarter ended June 30, 2022.
“We are thrilled to be on-site at Cape Canaveral, FL, taking our BlueWalker 3 test satellite through final preparations and continuation of testing for the upcoming planned launch to low Earth Orbit in early to mid-September,” said Abel Avellan, Chairman and CEO of AST SpaceMobile. “Alongside this milestone, the team is hard at work in preparing our Texas headquarters and extension facility for future production of our initial BlueBird satellites.”.
A sum of 2459609 shares traded at recent session while its average daily volume was at 1.13M shares. AST SpaceMobile Inc. shares reached a high of $13.3199 and dropped to a low of $11.60 until finishing in the latest session at $12.37.
The one-year ASTS stock forecast points to a potential upside of 58.07. The average equity rating for ASTS stock is currently 2.00, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on AST SpaceMobile Inc. [ASTS]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ASTS shares is $29.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ASTS stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Barclays have made an estimate for AST SpaceMobile Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on July 12, 2021. While these analysts kept the previous recommendation, Deutsche Bank raised their target price to Buy. The new note on the price target was released on June 30, 2021, representing the official price target for AST SpaceMobile Inc. stock.
The Average True Range (ATR) for AST SpaceMobile Inc. is set at 1.10, with the Price to Sales ratio for ASTS stock in the period of the last 12 months amounting to 122.47. The Price to Book ratio for the last quarter was 7.07, with the Price to Cash per share for the same quarter was set at 1.12.
ASTS Stock Performance Analysis:
AST SpaceMobile Inc. [ASTS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.27. With this latest performance, ASTS shares gained by 104.13% in over the last four-week period, additionally plugging by 95.73% over the last 6 months – not to mention a rise of 31.04% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ASTS stock in for the last two-week period is set at 66.58, with the RSI for the last a single of trading hit 65.01, and the three-weeks RSI is set at 66.13 for AST SpaceMobile Inc. [ASTS]. The present Moving Average for the last 50 days of trading for this stock 7.84, while it was recorded at 12.14 for the last single week of trading, and 8.16 for the last 200 days.
Insight into AST SpaceMobile Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and AST SpaceMobile Inc. [ASTS] shares currently have an operating margin of -699.28 and a Gross Margin at -223.06. AST SpaceMobile Inc.’s Net Margin is presently recorded at -152.95.
Return on Equity for this stock declined to -14.83, with Return on Assets sitting at -5.61.
AST SpaceMobile Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 10.30 and a Current Ratio set at 10.50.
AST SpaceMobile Inc. [ASTS] Insider Position Details
There are presently around $150 million, or 23.40% of ASTS stock, in the hands of institutional investors. The top three institutional holders of ASTS stocks are: VANGUARD GROUP INC with ownership of 1,853,238, which is approximately 11.156% of the company’s market cap and around 0.80% of the total institutional ownership; JANUS HENDERSON GROUP PLC, holding 1,767,841 shares of the stock with an approximate value of $21.87 million in ASTS stocks shares; and BROAD RUN INVESTMENT MANAGEMENT, LLC, currently with $20.97 million in ASTS stock with ownership of nearly -9.072% of the company’s market capitalization.
Positions in AST SpaceMobile Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 31 institutional holders increased their position in AST SpaceMobile Inc. [NASDAQ:ASTS] by around 2,048,101 shares. Additionally, 44 investors decreased positions by around 1,786,295 shares, while 22 investors held positions by with 8,301,619 shares. The mentioned changes placed institutional holdings at 12,136,015 shares, according to the latest SEC report filing. ASTS stock had 15 new institutional investments in for a total of 454,079 shares, while 16 institutional investors sold positions of 1,100,534 shares during the same period.