AST SpaceMobile (NASDAQ:ASTS) Shares Down 0.4% - What's Next?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) were down 0.4% on Thursday . The company traded as low as $23.06 and last traded at $23.29. Approximately 6,944,095 shares traded hands during trading, a decline of 35% from the average daily volume of 10,634,587 shares. The stock had previously closed at $23.39.

Wall Street Analysts Forecast Growth

ASTS has been the subject of a number of recent research reports. B. Riley upped their target price on AST SpaceMobile from $26.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. Scotiabank lowered 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. Deutsche Bank Aktiengesellschaft lifted their target price 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. Finally, 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 report on Friday, November 15th.

AST SpaceMobile Price Performance

The stock has a market cap of $6.75 billion, a P/E ratio of -10.99 and a beta of 1.64. The business has a 50-day simple moving average of $25.07 and a 200 day simple moving average of $19.64. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $23.12, for a total transaction of $62,424.00. Following the completion of the sale, the president now directly owns 712,660 shares in the company, valued at approximately $16,476,699.20. This trade represents a 0.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Adriana Cisneros acquired 4,934 shares of the stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $26.32 per share, with a total value of $129,862.88. Following the completion of the transaction, the director now owns 774,772 shares in the company, valued at approximately $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. Insiders own 41.80% of the company's stock.

Institutional Investors Weigh In On AST SpaceMobile

Several large investors have recently added to or reduced their stakes in the business. Fairfield Financial Advisors LTD bought a new position in shares of AST SpaceMobile during the 3rd quarter worth approximately $26,000. Hollencrest Capital Management acquired a new position in shares of AST SpaceMobile during the 3rd quarter valued at $26,000. Rakuten Securities Inc. bought a new position in AST SpaceMobile during the third quarter worth $68,000. Sunbelt Securities Inc. grew its holdings in AST SpaceMobile by 3,380.0% in the third quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company's stock worth $91,000 after purchasing an additional 3,380 shares during the period. Finally, KBC Group NV bought a new stake in AST SpaceMobile in the third quarter valued at $104,000. 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.