AST SpaceMobile (NASDAQ:ASTS) Trading Up 24.7% – Time to Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price traded up 24.7% during trading on Wednesday . The stock traded as high as $30.35 and last traded at $30.25. 11,070,649 shares were traded during mid-day trading, an increase of 5% from the average session volume of 10,529,440 shares. The stock had previously closed at $24.26.

Analysts Set New Price Targets

Several equities analysts have commented on ASTS shares. Scotiabank increased their target price on AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft raised their price target on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. B. Riley boosted their price objective on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, UBS Group raised their target price on AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th.

AST SpaceMobile Stock Performance

The stock’s 50-day moving average price is $25.67 and its 200-day moving average price is $18.14. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. The firm had revenue of $0.90 million for the quarter, compared to the consensus estimate of $2.00 million. On average, equities research analysts expect that AST SpaceMobile, Inc. will post -0.72 EPS for the current year.

Insider Activity

In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of AST SpaceMobile stock in a transaction that occurred 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 directly owns 393,232 shares in the company, valued at approximately $10,157,182.56. The trade was a 16.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Scott Wisniewski sold 2,700 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $23.12, for a total value of $62,424.00. Following the completion of the transaction, the president now directly owns 712,660 shares in the company, valued at approximately $16,476,699.20. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,700 shares of company stock valued at $3,220,524 in the last ninety days. 41.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Janus Henderson Group PLC raised its holdings in shares of AST SpaceMobile by 209.9% during the first quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock valued at $21,606,000 after purchasing an additional 5,046,667 shares during the period. Vanguard Group Inc. increased its position in AST SpaceMobile by 49.9% in the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after buying an additional 2,217,531 shares in the last quarter. Masters Capital Management LLC acquired a new position in AST SpaceMobile during the 1st quarter worth approximately $2,900,000. Privium Fund Management B.V. bought a new position in AST SpaceMobile in the third quarter worth approximately $21,476,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in AST SpaceMobile in the second quarter valued at approximately $9,270,000. 60.95% of the stock is owned by institutional investors.

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.