AST SpaceMobile (NASDAQ:ASTS) Shares Up 4.8% - Time to Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s share price was up 4.8% during trading on Friday . The stock traded as high as $23.81 and last traded at $23.60. Approximately 2,646,809 shares changed hands during trading, a decline of 75% from the average daily volume of 10,502,212 shares. The stock had previously closed at $22.51.

Analysts Set New Price Targets

ASTS has been the subject of a number of recent research reports. UBS Group boosted 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. B. Riley lifted their target price on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft raised their price objective on 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 cut their target price on AST SpaceMobile from $45.90 to $44.70 and set a "sector outperform" rating on the stock in a research note on Friday, November 15th.

AST SpaceMobile Price Performance

The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The firm has a market capitalization of $7.26 billion, a PE ratio of -11.67 and a beta of 1.60. The firm has a 50-day simple moving average of $24.72 and a 200-day simple moving average of $20.35.

Insider Activity

In related news, COO Shanti B. Gupta sold 80,000 shares of the company's stock in a transaction on 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 transaction, the chief operating officer now owns 393,232 shares of the company's stock, valued at approximately $10,157,182.56. This represents a 16.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 sale, the president now directly owns 712,660 shares in the company, valued at approximately $16,476,699.20. This represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,700 shares of company stock valued at $3,220,524 in the last ninety days. Corporate insiders own 41.80% of the company's stock.

Institutional Trading of AST SpaceMobile

Several institutional investors have recently made changes to their positions in ASTS. Amalgamated Bank boosted its stake in AST SpaceMobile by 17.4% in the 3rd quarter. Amalgamated Bank now owns 4,578 shares of the company's stock worth $120,000 after purchasing an additional 679 shares during the period. Victory Capital Management Inc. increased its holdings in AST SpaceMobile by 5.5% in the 2nd quarter. Victory Capital Management Inc. now owns 15,542 shares of the company's stock valued at $180,000 after acquiring an additional 814 shares during the last quarter. Fairfield Financial Advisors LTD purchased a new position in shares of AST SpaceMobile in the third quarter valued at $26,000. Hollencrest Capital Management bought a new stake in shares of AST SpaceMobile in the 3rd quarter worth about $26,000. Finally, Calton & Associates Inc. raised its position in shares of AST SpaceMobile by 14.5% during the 3rd quarter. Calton & Associates Inc. now owns 12,600 shares of the company's stock valued at $329,000 after buying an additional 1,600 shares in the last quarter. Hedge funds and other 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.

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