AST SpaceMobile (NASDAQ:ASTS) Trading Up 0.8% - What's Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) was up 0.8% during trading on Monday . The company traded as high as $23.73 and last traded at $23.66. Approximately 1,363,683 shares were traded during trading, a decline of 87% from the average daily volume of 10,448,456 shares. The stock had previously closed at $23.48.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ASTS shares. UBS Group raised their target price on shares of 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 price target on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, August 29th. 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 report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on AST SpaceMobile from $22.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, September 4th.

AST SpaceMobile Trading Up 3.5 %

The firm's 50 day simple moving average is $24.65 and its 200-day simple moving average is $21.48. The company has a market capitalization of $7.04 billion, a PE ratio of -11.46 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.

Insider Activity at AST SpaceMobile

In other news, CTO Huiwen Yao sold 45,000 shares of the company's stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total value of $1,091,700.00. Following the completion of the transaction, the chief technology officer now directly owns 55,000 shares in the company, valued at approximately $1,334,300. This represents a 45.00 % 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 link. Also, COO Shanti B. Gupta sold 80,000 shares of the firm's stock in a transaction on Monday, September 30th. The shares were sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the sale, the chief operating officer now directly owns 393,232 shares of the company's stock, valued at approximately $10,157,182.56. The trade was a 16.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 127,700 shares of company stock worth $3,220,524. Corporate insiders own 41.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Amalgamated Bank raised its stake in shares of AST SpaceMobile by 17.4% in the 3rd quarter. Amalgamated Bank now owns 4,578 shares of the company's stock valued at $120,000 after purchasing an additional 679 shares in the last quarter. Victory Capital Management Inc. increased its holdings in AST SpaceMobile by 5.5% in the second quarter. Victory Capital Management Inc. now owns 15,542 shares of the company's stock valued at $180,000 after buying an additional 814 shares during the last quarter. Fairfield Financial Advisors LTD acquired a new stake in AST SpaceMobile during the third quarter valued at approximately $26,000. Hollencrest Capital Management bought a new position in AST SpaceMobile during the 3rd quarter worth approximately $26,000. Finally, Calton & Associates Inc. lifted its holdings in AST SpaceMobile by 14.5% during the 3rd quarter. Calton & Associates Inc. now owns 12,600 shares of the company's stock worth $329,000 after buying an additional 1,600 shares during 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.