AST SpaceMobile (NASDAQ:ASTS) Trading Down 0%

AST SpaceMobile, Inc. (NASDAQ:ASTS) fell 0% during mid-day trading on Tuesday . The company traded as low as $28.74 and last traded at $29.83. 4,549,340 shares changed hands during trading, a decline of 56% from the average session volume of 10,436,067 shares. The stock had previously closed at $29.84.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ASTS shares. Deutsche Bank Aktiengesellschaft boosted their price objective on AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. B. Riley lifted 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. Scotiabank increased their target price on shares of AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. Finally, UBS Group lifted their price target on shares of 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 firm’s 50-day moving average price is $23.34 and its two-hundred day moving average price is $11.64. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $7.29 billion, a PE ratio of -28.88 and a beta of 1.63.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.05. The firm had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $2.00 million. As a group, research analysts predict that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current fiscal year.

Insider Activity

In other AST SpaceMobile news, Director Adriana Cisneros bought 4,934 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $26.32 per share, for a total transaction of $129,862.88. Following the purchase, the director now directly owns 774,772 shares in the company, valued at $20,391,999.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 56.56% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AST SpaceMobile

Large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. bought a new position in shares of AST SpaceMobile during the 4th quarter worth about $65,000. Cantor Fitzgerald L. P. bought a new stake in shares of AST SpaceMobile in the 4th quarter worth approximately $66,000. Calton & Associates Inc. acquired a new stake in shares of AST SpaceMobile during the 2nd quarter worth approximately $128,000. Rathbones Group PLC acquired a new stake in shares of AST SpaceMobile during the 4th quarter worth approximately $76,000. Finally, BNP Paribas bought a new stake in shares of AST SpaceMobile during the first quarter valued at approximately $43,000. 60.95% of the stock is currently 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.