AST SpaceMobile (NASDAQ:ASTS) Trading 0.2% Higher – Here’s Why

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price rose 0.2% during trading on Tuesday . The company traded as high as $24.36 and last traded at $23.98. Approximately 1,443,373 shares changed hands during trading, a decline of 86% from the average daily volume of 10,493,629 shares. The stock had previously closed at $23.94.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. UBS Group upped their target price on shares of AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. B. Riley upped their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Scotiabank lifted their target price on AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a research note on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft upped their price target 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 Stock Performance

The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.83. The stock has a 50 day moving average price of $26.53 and a two-hundred day moving average price of $17.13. The company has a market cap of $6.37 billion, a price-to-earnings ratio of -19.18 and a beta of 1.64.

AST SpaceMobile (NASDAQ:ASTS) last posted its earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.05. The company had revenue of $0.90 million for the quarter, compared to analyst estimates of $2.00 million. Analysts predict that AST SpaceMobile, Inc. will post -0.88 EPS for the current year.

Insiders Place Their Bets

In other AST SpaceMobile news, CTO Huiwen Yao sold 45,000 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $24.26, for a total value of $1,091,700.00. Following the completion of the transaction, the chief technology officer now directly owns 55,000 shares of the company’s stock, valued at approximately $1,334,300. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of AST SpaceMobile 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 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Huiwen Yao sold 45,000 shares of the 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 sale, the chief technology officer now directly owns 55,000 shares of the company’s stock, valued at $1,334,300. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 127,700 shares of company stock worth $3,220,524. Company insiders own 41.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Fairfield Financial Advisors LTD acquired a new position in AST SpaceMobile during the third quarter valued at approximately $26,000. Hollencrest Capital Management acquired a new stake in shares of AST SpaceMobile in the 3rd quarter valued at approximately $26,000. Principal Financial Group Inc. acquired a new position in AST SpaceMobile during the first quarter worth $45,000. Rakuten Securities Inc. acquired a new position in AST SpaceMobile during the third quarter worth $68,000. Finally, Black Maple Capital Management LP bought a new stake in AST SpaceMobile during the first quarter worth $87,000. 60.95% of the stock is owned by institutional investors and hedge funds.

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.