AST SpaceMobile (NASDAQ:ASTS) Shares Up 1% – Here’s What Happened

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. B. Riley lifted their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Scotiabank cut their price objective on 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 boosted their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of 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 Stock Down 0.4 %

The firm has a market capitalization of $6.75 billion, a PE ratio of -11.04 and a beta of 1.64. The firm’s 50-day moving average is $25.17 and its 200 day moving average is $19.61. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80.

Insider Activity

In related news, COO Shanti B. Gupta sold 80,000 shares of the business’s stock in a transaction dated 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 transaction, the chief operating officer now owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. The trade was a 16.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Adriana Cisneros bought 4,934 shares of AST SpaceMobile stock in a transaction on 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 completion of the acquisition, the director now owns 774,772 shares in the company, valued at $20,391,999.04. This represents a 0.64 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 127,700 shares of company stock worth $3,220,524 over the last ninety days. 41.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AST SpaceMobile

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Fairfield Financial Advisors LTD acquired a new stake in AST SpaceMobile in the 3rd quarter worth about $26,000. Hollencrest Capital Management purchased a new stake in AST SpaceMobile in the third quarter valued at approximately $26,000. Rakuten Securities Inc. acquired a new position in AST SpaceMobile during the third quarter worth approximately $68,000. Sunbelt Securities Inc. boosted its holdings in shares of AST SpaceMobile by 3,380.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock valued at $91,000 after purchasing an additional 3,380 shares during the last quarter. Finally, KBC Group NV purchased a new stake in shares of AST SpaceMobile during the 3rd quarter valued at $104,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

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.