AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 1.8% – What’s Next?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) rose 1.8% during mid-day trading on Wednesday . The company traded as high as $24.95 and last traded at $23.82. Approximately 3,050,916 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 10,616,353 shares. The stock had previously closed at $23.39.

Analyst Ratings Changes

ASTS has been the subject of several recent analyst reports. UBS Group upped their price target on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. B. Riley raised 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. Deutsche Bank Aktiengesellschaft raised their target price 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. Finally, Scotiabank reduced their price objective on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a research note on Friday, November 15th.

AST SpaceMobile Price Performance

The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The stock’s fifty day moving average price is $25.26 and its two-hundred day moving average price is $19.46. The firm has a market capitalization of $6.77 billion, a price-to-earnings ratio of -11.24 and a beta of 1.64.

Insider Buying and Selling

In other news, President Scott Wisniewski sold 2,700 shares of AST SpaceMobile stock in a transaction 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 completion of the sale, the president now owns 712,660 shares of the company’s stock, valued at $16,476,699.20. The trade was a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Shanti B. Gupta sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was 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 in the company, valued at $10,157,182.56. This represents a 16.91 % decrease in their ownership of the stock. 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 quarter. Company insiders own 41.80% of the company’s stock.

Institutional Inflows and Outflows

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

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.