AST SpaceMobile Inc. [NASDAQ: ASTS] stock went on a downward path that fall over -6.86% on Thursday, amounting to a one-week price decrease of less than -4.24%. The company report on March 31, 2023 that AST SpaceMobile Provides Fourth Quarter and Full Year 2022 Business Update.
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, is providing its business update for the three months and fiscal year ended December 31, 2022.
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“The testing to date for BlueWalker 3 continues to validate the design roadmap for our BlueBird commercial satellites,” said Abel Avellan, Chairman and Chief Executive Officer of AST SpaceMobile. “As we plan for the commercialization of our service, we are ramping the manufacturing of our Block 1 satellites and making key investments for Block 2 satellites.”.
Over the last 12 months, ASTS stock dropped by -58.97%. The one-year AST SpaceMobile Inc. stock forecast points to a potential upside of 80.31. The average equity rating for ASTS stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $483.72 million, with 60.87 million shares outstanding and 44.33 million shares in the current float. Compared to the average trading volume of 1.72M shares, ASTS stock reached a trading volume of 2450821 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $20.67 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.
B. Riley Securities have made an estimate for AST SpaceMobile Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 28, 2022. While these analysts kept the previous recommendation, Barclays raised their target price to Overweight. The new note on the price target was released on July 12, 2021, representing the official price target for AST SpaceMobile Inc. stock. Previously, the target price had yet another raise to $35, while Deutsche Bank analysts kept a Buy rating on ASTS stock.
The Average True Range (ATR) for AST SpaceMobile Inc. is set at 0.44, with the Price to Sales ratio for ASTS stock in the period of the last 12 months amounting to 35.05. The Price to Book ratio for the last quarter was 1.86, with the Price to Cash per share for the same quarter was set at 2.01.
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 -4.24. With this latest performance, ASTS shares dropped by -34.04% in over the last four-week period, additionally sinking by -43.00% over the last 6 months – not to mention a drop of -58.97% 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 31.36, with the RSI for the last a single of trading hit 26.17, and the three-weeks RSI is set at 35.51 for AST SpaceMobile Inc. [ASTS]. The present Moving Average for the last 50 days of trading for this stock 5.84, while it was recorded at 4.35 for the last single week of trading, and 6.78 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 -1054.35 and a Gross Margin at -374.77. AST SpaceMobile Inc.’s Net Margin is presently recorded at -228.86.
Return on Equity for this stock declined to -27.06, with Return on Assets sitting at -7.17.
AST SpaceMobile Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.70 and a Current Ratio set at 9.70.
AST SpaceMobile Inc. [ASTS] Insider Position Details
There are presently around $104 million, or 16.80% of ASTS stock, in the hands of institutional investors. The top three institutional holders of ASTS stocks are: VANGUARD GROUP INC with ownership of 2,442,239, which is approximately 18.738% of the company’s market cap and around 3.60% of the total institutional ownership; NO STREET GP LP, holding 2,400,000 shares of the stock with an approximate value of $10.49 million in ASTS stocks shares; and BROAD RUN INVESTMENT MANAGEMENT, LLC, currently with $10.22 million in ASTS stock with ownership of nearly 42.802% of the company’s market capitalization.
Positions in AST SpaceMobile Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 75 institutional holders increased their position in AST SpaceMobile Inc. [NASDAQ:ASTS] by around 14,251,705 shares. Additionally, 27 investors decreased positions by around 3,772,134 shares, while 21 investors held positions by with 5,763,431 shares. The mentioned changes placed institutional holdings at 23,787,270 shares, according to the latest SEC report filing. ASTS stock had 39 new institutional investments in for a total of 8,155,101 shares, while 16 institutional investors sold positions of 2,961,459 shares during the same period.