AST SpaceMobile (NASDAQ:ASTS) Shares Up 0.8% – Here’s What Happened

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) traded up 0.8% during trading on Monday . The stock traded as high as $23.73 and last traded at $23.66. 1,363,683 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 10,448,456 shares. The stock had previously closed at $23.48.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ASTS. Scotiabank dropped their price target on shares of AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a research report on Friday, November 15th. UBS Group increased their target price on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. B. Riley boosted their price target on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft increased 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.

AST SpaceMobile Trading Down 5.7 %

The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The company has a market cap of $6.77 billion, a P/E ratio of -11.02 and a beta of 1.60. The business has a 50-day moving average price of $24.66 and a two-hundred day moving average price of $21.60.

Insiders Place Their Bets

In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $25.83, for a total value of $2,066,400.00. Following the completion of the sale, the chief operating officer now owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. This represents a 16.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Huiwen Yao sold 45,000 shares of AST SpaceMobile stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $24.26, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,700 shares of company stock valued at $3,220,524. Company insiders own 41.80% of the company’s stock.

Hedge Funds Weigh In On AST SpaceMobile

Several institutional investors have recently modified their holdings of the business. Amalgamated Bank lifted its position in AST SpaceMobile by 17.4% in the 3rd quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock valued at $120,000 after acquiring an additional 679 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of AST SpaceMobile by 5.5% in the 2nd quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock valued at $180,000 after purchasing an additional 814 shares during the period. Fairfield Financial Advisors LTD bought a new stake in shares of AST SpaceMobile in the third quarter valued at about $26,000. Hollencrest Capital Management acquired a new position in shares of AST SpaceMobile during the third quarter worth about $26,000. Finally, Calton & Associates Inc. grew its holdings in shares of AST SpaceMobile by 14.5% during the third quarter. Calton & Associates Inc. now owns 12,600 shares of the company’s stock worth $329,000 after buying an additional 1,600 shares in the last quarter. Institutional investors 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.