AST SpaceMobile (NASDAQ:ASTS) Stock Price Expected to Rise, UBS Group Analyst Says

AST SpaceMobile (NASDAQ:ASTS) had its price objective hoisted by research analysts at UBS Group from $30.00 to $31.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 27.94% from the stock’s previous close.

A number of other equities analysts have also weighed in on ASTS. Scotiabank boosted their price objective on AST SpaceMobile from $28.00 to $45.90 and gave the stock a “sector outperform” rating in a research note on Monday, August 26th. B. Riley boosted their price target on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective 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 9.6 %

Shares of NASDAQ ASTS opened at $24.23 on Friday. The stock has a market cap of $6.53 billion, a PE ratio of -11.43 and a beta of 1.64. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.83. AST SpaceMobile has a 12-month low of $1.97 and a 12-month high of $39.08. The company has a 50-day moving average of $25.63 and a 200 day moving average of $18.41.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly 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 analysts’ expectations of $2.00 million. As a group, sell-side analysts predict that AST SpaceMobile will post -0.72 EPS for the current fiscal year.

Insider Buying and Selling at AST SpaceMobile

In other news, CTO Huiwen Yao sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total value of $1,091,700.00. Following the transaction, the chief technology officer now directly owns 55,000 shares in the company, valued at approximately $1,334,300. This represents a 45.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Adriana Cisneros bought 4,934 shares of the business’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the transaction, the director now owns 774,772 shares of the company’s stock, valued at $20,391,999.04. This trade represents a 0.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 127,700 shares of company stock worth $3,220,524 over the last quarter. 41.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AST SpaceMobile

Several large investors have recently added to or reduced their stakes in ASTS. Fairfield Financial Advisors LTD acquired a new position in shares of AST SpaceMobile in the third quarter worth $26,000. Hollencrest Capital Management acquired a new position in AST SpaceMobile during the 3rd quarter worth $26,000. Rakuten Securities Inc. purchased a new stake in AST SpaceMobile during the 3rd quarter worth about $68,000. Black Maple Capital Management LP acquired a new stake in AST SpaceMobile in the 1st quarter valued at about $87,000. Finally, KBC Group NV purchased a new position in shares of AST SpaceMobile in the 3rd quarter valued at about $104,000. 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.