AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 1.6%

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares were up 1.6% on Monday . The company traded as high as $26.70 and last traded at $25.73. Approximately 4,898,124 shares changed hands during mid-day trading, a decline of 54% from the average daily volume of 10,570,712 shares. The stock had previously closed at $25.32.

Analysts Set New Price Targets

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

AST SpaceMobile Stock Performance

The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38. The stock has a market cap of $6.73 billion, a P/E ratio of -27.06 and a beta of 1.63. The stock has a 50-day simple moving average of $25.48 and a 200-day simple moving average of $12.94.

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

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, Director Adriana Cisneros purchased 4,934 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 774,772 shares in the company, valued at approximately $20,391,999.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 56.56% of the stock is owned by company insiders.

Institutional Trading of AST SpaceMobile

Institutional investors and hedge funds have recently bought and sold shares of the company. Cantor Fitzgerald L. P. purchased a new position in AST SpaceMobile in the 4th quarter worth approximately $66,000. Calton & Associates Inc. bought a new stake in AST SpaceMobile in the 2nd quarter worth approximately $128,000. Rathbones Group PLC bought a new stake in AST SpaceMobile in the 4th quarter worth approximately $76,000. BNP Paribas bought a new stake in AST SpaceMobile in the 1st quarter worth approximately $43,000. Finally, Sender Co & Partners Inc. bought a new stake in AST SpaceMobile in the 2nd quarter worth approximately $177,000. 60.95% of the stock is currently owned by 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.