AST SpaceMobile (NASDAQ:ASTS) Shares Down 1.7%

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price traded down 1.7% on Monday . The company traded as low as $25.95 and last traded at $26.06. 2,431,756 shares were traded during trading, a decline of 77% from the average session volume of 10,513,649 shares. The stock had previously closed at $26.50.

Analyst Upgrades and Downgrades

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

AST SpaceMobile Stock Up 1.0 %

The firm has a fifty day simple moving average of $24.28 and a 200-day simple moving average of $12.16. The company has a market capitalization of $6.89 billion, a PE ratio of -26.59 and a beta of 1.63. The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. The company had revenue of $0.90 million during the quarter, compared to the consensus estimate of $2.00 million. Equities research analysts anticipate that AST SpaceMobile, Inc. will post -0.88 EPS for the current fiscal year.

Insider Transactions at AST SpaceMobile

In other news, Director Adriana Cisneros acquired 4,934 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $26.32 per share, with a total value of $129,862.88. Following the completion of the acquisition, the director now directly owns 774,772 shares in the company, valued at $20,391,999.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 56.56% of the company’s stock.

Institutional Trading of AST SpaceMobile

Institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC grew its position in shares of AST SpaceMobile by 209.9% during the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock valued at $21,606,000 after buying an additional 5,046,667 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of AST SpaceMobile by 49.9% in the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock worth $19,325,000 after purchasing an additional 2,217,531 shares during the last quarter. Broad Run Investment Management LLC boosted its position in AST SpaceMobile by 74.8% during the 4th quarter. Broad Run Investment Management LLC now owns 3,962,853 shares of the company’s stock valued at $23,896,000 after purchasing an additional 1,695,805 shares during the period. Masters Capital Management LLC bought a new position in AST SpaceMobile during the 1st quarter worth $2,900,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in AST SpaceMobile in the second quarter worth $9,270,000. 60.95% of the stock is owned by institutional investors and hedge funds.

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.