AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 0.8% – Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares shot up 0.8% on Thursday . The stock traded as high as $22.89 and last traded at $22.79. 2,371,247 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 10,555,263 shares. The stock had previously closed at $22.61.

Analyst Ratings Changes

Several equities analysts recently issued reports on ASTS shares. Scotiabank lifted their price objective on shares of AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a report on Monday, August 26th. UBS Group lifted their price target on 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 upped 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. Finally, B. Riley lifted their target price on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 29th.

AST SpaceMobile Stock Up 4.8 %

The company’s fifty day simple moving average is $26.90 and its 200-day simple moving average is $14.28. The firm has a market capitalization of $6.23 billion, a PE ratio of -24.67 and a beta of 1.62. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38.

AST SpaceMobile (NASDAQ:ASTS) last announced its earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.05. The business had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $2.00 million. On average, analysts forecast that AST SpaceMobile, Inc. will post -0.88 EPS for the current year.

Insider Activity at AST SpaceMobile

In other news, COO Shanti B. Gupta sold 80,000 shares of AST SpaceMobile stock in a transaction on Monday, September 30th. The shares were sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the completion of the sale, the chief operating officer now directly owns 393,232 shares in the company, valued at approximately $10,157,182.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Adriana Cisneros bought 4,934 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $26.32 per share, for a total transaction of $129,862.88. Following the completion of the transaction, the director now directly owns 774,772 shares in the company, valued at approximately $20,391,999.04. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Shanti B. Gupta sold 80,000 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the completion of the transaction, the chief operating officer now owns 393,232 shares in the company, valued at approximately $10,157,182.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,700 shares of company stock valued at $3,220,524 in the last three months. 56.56% of the stock is owned by insiders.

Institutional Trading of AST SpaceMobile

Institutional investors and hedge funds have recently bought and sold shares of the business. Key Colony Management LLC acquired a new stake in shares of AST SpaceMobile in the third quarter worth $3,556,000. Sanders Morris Harris LLC boosted its holdings in AST SpaceMobile by 39.6% in the third quarter. Sanders Morris Harris LLC now owns 25,387 shares of the company’s stock valued at $664,000 after purchasing an additional 7,200 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in AST SpaceMobile during the 3rd quarter worth about $105,000. Brookstone Capital Management purchased a new position in shares of AST SpaceMobile during the 3rd quarter valued at about $255,000. Finally, Dynamic Advisor Solutions LLC lifted its holdings in shares of AST SpaceMobile by 263.7% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 55,580 shares of the company’s stock valued at $1,453,000 after buying an additional 40,300 shares during the period. 60.95% of the stock is currently owned by institutional investors and hedge funds.

About AST SpaceMobile

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.