AST SpaceMobile (NASDAQ:ASTS) Trading 1.1% Higher

AST SpaceMobile, Inc. (NASDAQ:ASTS) shot up 1.1% during mid-day trading on Thursday . The stock traded as high as $29.28 and last traded at $28.61. 2,515,421 shares traded hands during trading, a decline of 76% from the average session volume of 10,444,795 shares. The stock had previously closed at $28.30.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. UBS Group increased 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. Scotiabank raised their price objective on AST SpaceMobile from $28.00 to $45.90 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. B. Riley lifted their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft increased 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 Trading Down 7.4 %

The firm has a fifty day moving average of $24.01 and a 200-day moving average of $11.87. The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38. The stock has a market capitalization of $6.82 billion, a price-to-earnings ratio of -27.09 and a beta of 1.63.

AST SpaceMobile (NASDAQ:ASTS) last posted its earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. The company had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.00 million. As a group, equities analysts predict that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current fiscal year.

Insider Buying and Selling at AST SpaceMobile

In other news, Director Adriana Cisneros bought 4,934 shares of AST SpaceMobile stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $26.32 per share, with a total value of $129,862.88. Following the completion of the transaction, the director now owns 774,772 shares in the company, valued at approximately $20,391,999.04. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 56.56% of the stock is owned by corporate insiders.

Institutional Trading of AST SpaceMobile

A number of hedge funds and other institutional investors have recently modified their holdings of ASTS. Victory Capital Management Inc. grew its stake in AST SpaceMobile by 5.5% during the 2nd quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock valued at $180,000 after purchasing an additional 814 shares in the last quarter. Accordant Advisory Group Inc grew its position in shares of AST SpaceMobile by 2.0% during the second quarter. Accordant Advisory Group Inc now owns 162,823 shares of the company’s stock worth $1,890,000 after buying an additional 3,146 shares in the last quarter. MBE Wealth Management LLC increased its stake in shares of AST SpaceMobile by 34.1% in the second quarter. MBE Wealth Management LLC now owns 27,000 shares of the company’s stock worth $313,000 after buying an additional 6,870 shares during the last quarter. Cantor Fitzgerald L. P. acquired a new stake in AST SpaceMobile in the fourth quarter valued at $66,000. Finally, Calton & Associates Inc. bought a new position in AST SpaceMobile during the 2nd quarter valued at $128,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

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.