AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 1% – Should You Buy?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) traded up 1% on Monday . The company traded as high as $24.71 and last traded at $24.33. 2,220,773 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 10,623,427 shares. The stock had previously closed at $24.10.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. B. Riley increased their target price on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Scotiabank decreased their target price on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a report on Friday, November 15th. UBS Group boosted their target price on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th.

AST SpaceMobile Trading Up 0.5 %

The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The company’s 50-day moving average price is $25.37 and its 200-day moving average price is $19.31. The firm has a market capitalization of $7.01 billion, a PE ratio of -12.26 and a beta of 1.64.

Insider Buying and Selling at AST SpaceMobile

In related news, President Scott Wisniewski sold 2,700 shares of AST SpaceMobile stock in a transaction on Monday, September 30th. The shares were sold at an average price of $23.12, for a total transaction of $62,424.00. Following the sale, the president now directly owns 712,660 shares in the company, valued at $16,476,699.20. This trade represents a 0.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Shanti B. Gupta sold 80,000 shares of the business’s 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 of the company’s stock, valued at approximately $10,157,182.56. This trade represents a 16.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,700 shares of company stock worth $3,220,524 over the last ninety days. Corporate insiders own 41.80% of the company’s stock.

Institutional Trading of AST SpaceMobile

A number of hedge funds and other institutional investors have recently made changes to their positions in ASTS. Vanguard Group Inc. boosted its position 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 valued at $19,325,000 after purchasing an additional 2,217,531 shares during the period. American International Group Inc. boosted its holdings in shares of AST SpaceMobile by 41.5% in the first quarter. American International Group Inc. now owns 56,527 shares of the company’s stock valued at $164,000 after acquiring an additional 16,568 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of AST SpaceMobile by 71.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 55,335 shares of the company’s stock worth $161,000 after acquiring an additional 22,987 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of AST SpaceMobile by 209.9% in the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock valued at $21,606,000 after acquiring an additional 5,046,667 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of AST SpaceMobile in the 2nd quarter valued at $334,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

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.