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

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) were up 0.8% during mid-day trading on Tuesday . The company traded as high as $24.70 and last traded at $24.49. Approximately 1,477,418 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 10,434,182 shares. The stock had previously closed at $24.30.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Scotiabank cut their price target on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a report on Friday, November 15th. UBS Group increased their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, B. Riley lifted their target price on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 29th.

AST SpaceMobile Trading Down 1.5 %

The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The company has a market capitalization of $6.66 billion, a price-to-earnings ratio of -10.85 and a beta of 1.60. The business’s 50 day moving average price is $24.68 and its two-hundred day moving average price is $21.61.

Insiders Place Their Bets

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $23.12, for a total value of $62,424.00. Following the completion of the transaction, the president now directly owns 712,660 shares in the company, valued at $16,476,699.20. This trade represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Huiwen Yao sold 45,000 shares of the firm’s stock in a transaction on 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 sale, the chief technology officer now directly owns 55,000 shares of the company’s stock, valued at approximately $1,334,300. This trade represents a 45.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,700 shares of company stock worth $3,220,524 over the last ninety days. Company insiders own 41.80% of the company’s stock.

Institutional Investors Weigh In On AST SpaceMobile

A number of hedge funds and other institutional investors have recently made changes to their positions in ASTS. 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 position in shares of AST SpaceMobile during the 3rd quarter worth about $26,000. Rakuten Securities Inc. bought a new stake in AST SpaceMobile during the 3rd quarter valued at approximately $68,000. Sunbelt Securities Inc. grew its holdings in 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 buying an additional 3,380 shares during the last quarter. Finally, KBC Group NV bought a new position in AST SpaceMobile in the 3rd quarter worth approximately $104,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

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.