AST SpaceMobile (NASDAQ:ASTS) Shares Up 0.8% - Still a Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) shares shot up 0.8% during trading on Friday . The stock traded as high as $21.88 and last traded at $21.63. 1,903,760 shares were traded during mid-day trading, a decline of 82% from the average session volume of 10,528,790 shares. The stock had previously closed at $21.45.

Wall Street Analyst Weigh In

Several research firms recently commented on ASTS. B. Riley boosted their price objective on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, August 29th. UBS Group raised their price target on AST SpaceMobile from $13.00 to $30.00 and gave the company a "buy" rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their price objective on AST SpaceMobile from $22.00 to $63.00 and gave the stock a "buy" rating in a research note on Wednesday, September 4th. Finally, Scotiabank boosted their target price on shares of AST SpaceMobile from $28.00 to $45.90 and gave the stock a "sector outperform" rating in a report on Monday, August 26th.

AST SpaceMobile Trading Up 3.0 %

The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38. The business has a 50-day simple moving average of $26.13 and a two-hundred day simple moving average of $17.35. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of -17.30 and a beta of 1.64.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) EPS for the quarter, topping analysts' consensus estimates of ($0.19) by $0.05. The company had revenue of $0.90 million for the quarter, compared to the consensus estimate of $2.00 million. Equities analysts forecast that AST SpaceMobile, Inc. will post -0.88 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Adriana Cisneros bought 4,934 shares of the firm's stock in a transaction dated Friday, September 6th. The shares were bought at an average price 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 of the company's stock, valued at $20,391,999.04. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, President Scott Wisniewski sold 2,700 shares of the firm's stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $23.12, for a total transaction of $62,424.00. Following the transaction, the president now directly owns 712,660 shares of the company's stock, valued at approximately $16,476,699.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Adriana Cisneros purchased 4,934 shares of the business's stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $26.32 per share, with a total value of $129,862.88. Following the completion of the purchase, the director now owns 774,772 shares of the company's stock, valued at $20,391,999.04. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 127,700 shares of company stock valued at $3,220,524. Company insiders own 41.80% of the company's stock.

Hedge Funds Weigh In On AST SpaceMobile

Hedge funds have recently added to or reduced their stakes in the stock. New Millennium Group LLC acquired a new position in AST SpaceMobile in the third quarter valued at about $110,000. SouthState Corp acquired a new stake in shares of AST SpaceMobile during the 3rd quarter worth approximately $799,000. Swiss National Bank bought a new position in AST SpaceMobile in the third quarter valued at approximately $6,911,000. KBC Group NV acquired a new position in AST SpaceMobile during the third quarter valued at approximately $104,000. Finally, Oppenheimer & Co. Inc. lifted its stake in AST SpaceMobile by 6.0% during the third quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company's stock worth $22,125,000 after purchasing an additional 47,600 shares during the last quarter. Institutional investors own 60.95% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.