AST SpaceMobile (NASDAQ:ASTS) Trading 0.7% Higher - Still a Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s stock price shot up 0.7% during trading on Friday . The company traded as high as $23.29 and last traded at $23.16. 2,935,548 shares traded hands during trading, a decline of 72% from the average session volume of 10,397,236 shares. The stock had previously closed at $23.00.

Analyst Upgrades and Downgrades

ASTS has been the topic of a number of analyst reports. B. Riley upped their target price on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft increased their target price on AST SpaceMobile from $22.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. UBS Group raised their target price on AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Finally, Scotiabank dropped 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 Trading Down 0.5 %

The company has a market cap of $6.63 billion, a price-to-earnings ratio of -10.79 and a beta of 1.60. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The company's fifty day moving average price is $24.65 and its two-hundred day moving average price is $21.72.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of the firm'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 sale, the chief operating officer now owns 393,232 shares in the company, valued at approximately $10,157,182.56. This trade represents a 16.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Scott Wisniewski sold 2,700 shares of the company's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $23.12, for a total transaction of $62,424.00. Following the transaction, the president now owns 712,660 shares in the company, valued at $16,476,699.20. The trade was a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,700 shares of company stock valued at $3,220,524 in the last three months. Corporate insiders own 41.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Fairfield Financial Advisors LTD bought a new stake in shares of AST SpaceMobile during the third quarter worth $26,000. Hollencrest Capital Management acquired a new stake in AST SpaceMobile in the third quarter worth about $26,000. Rakuten Securities Inc. bought a new stake in AST SpaceMobile during the 3rd quarter worth about $68,000. Sunbelt Securities Inc. raised its holdings in AST SpaceMobile by 3,380.0% during the 3rd 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 last quarter. Finally, KBC Group NV acquired a new position in AST SpaceMobile during the 3rd quarter valued at about $104,000. 60.95% of the stock is currently owned by 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.