AST SpaceMobile (NASDAQ:ASTS) Trading Up 0.4% – Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price was up 0.4% during trading on Wednesday . The company traded as high as $23.12 and last traded at $23.01. Approximately 1,348,758 shares were traded during trading, a decline of 87% from the average daily volume of 10,532,978 shares. The stock had previously closed at $22.91.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ASTS. B. Riley increased their target price on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. UBS Group lifted their price objective on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Scotiabank reduced their price objective on shares of AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th.

AST SpaceMobile Stock Down 0.5 %

The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The company has a market capitalization of $6.61 billion, a P/E ratio of -10.85 and a beta of 1.60. The firm’s fifty day moving average is $24.78 and its 200-day moving average is $20.32.

Insider Buying and Selling

In other AST SpaceMobile news, CTO Huiwen Yao sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $24.26, for a total value of $1,091,700.00. Following the completion of the transaction, the chief technology officer now directly owns 55,000 shares in the company, valued at $1,334,300. This represents a 45.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Shanti B. Gupta sold 80,000 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $25.83, for a total value of $2,066,400.00. Following the completion of the sale, the chief operating officer now owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. This represents a 16.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,700 shares of company stock worth $3,220,524. Insiders own 41.80% of the company’s stock.

Institutional Investors Weigh In On AST SpaceMobile

Several institutional investors have recently added to or reduced their stakes in ASTS. Amalgamated Bank increased its holdings in shares of AST SpaceMobile by 17.4% in the 3rd quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock valued at $120,000 after acquiring an additional 679 shares during the last quarter. Victory Capital Management Inc. boosted its position in AST SpaceMobile by 5.5% during the second quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock worth $180,000 after acquiring an additional 814 shares during the last quarter. Fairfield Financial Advisors LTD acquired a new position in shares of AST SpaceMobile in the 3rd quarter valued at $26,000. Hollencrest Capital Management purchased a new position in shares of AST SpaceMobile in the 3rd quarter valued at $26,000. Finally, Calton & Associates Inc. increased its stake in AST SpaceMobile by 14.5% during the 3rd quarter. Calton & Associates Inc. now owns 12,600 shares of the company’s stock worth $329,000 after buying an additional 1,600 shares during the period. Institutional investors and hedge funds own 60.95% of the company’s stock.

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.