AST SpaceMobile (NASDAQ:ASTS) Shares Up 2.1% – Still a Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS) traded up 2.1% during mid-day trading on Friday . The stock traded as high as $25.75 and last traded at $25.59. 4,009,225 shares traded hands during trading, a decline of 62% from the average session volume of 10,577,140 shares. The stock had previously closed at $25.07.

Analysts Set New Price Targets

Several research analysts recently commented on ASTS shares. B. Riley lifted their target price 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. UBS Group increased their price objective on AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their price target 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, Scotiabank raised their price objective 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.

AST SpaceMobile Stock Up 4.3 %

The company has a fifty day moving average price of $27.84 and a 200-day moving average price of $15.80. The stock has a market capitalization of $7.04 billion, a P/E ratio of -20.47 and a beta of 1.62. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83.

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

Insider Activity

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $23.12, for a total value of $62,424.00. Following the sale, the president now owns 712,660 shares in the company, valued at approximately $16,476,699.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, President Scott Wisniewski sold 2,700 shares of AST SpaceMobile stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $23.12, for a total value of $62,424.00. Following the sale, the president now directly owns 712,660 shares of the company’s stock, valued at $16,476,699.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Shanti B. Gupta sold 80,000 shares of the 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 directly owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,700 shares of company stock valued at $3,220,524 over the last ninety days. 41.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ASTS. Janus Henderson Group PLC increased its stake in AST SpaceMobile by 209.9% in the first quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock valued at $21,606,000 after purchasing an additional 5,046,667 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of AST SpaceMobile by 49.9% during the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock worth $19,325,000 after buying an additional 2,217,531 shares during the last quarter. Masters Capital Management LLC acquired a new position in shares of AST SpaceMobile during the 1st quarter worth $2,900,000. Oppenheimer & Co. Inc. purchased a new stake in AST SpaceMobile during the 2nd quarter worth about $9,270,000. Finally, Bank of New York Mellon Corp increased its position in AST SpaceMobile by 56.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 472,769 shares of the company’s stock worth $5,489,000 after purchasing an additional 170,440 shares in the last quarter. 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.