AST SpaceMobile (NASDAQ:ASTS) Shares Up 1.3% - Here's Why

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s share price was up 1.3% during trading on Wednesday . The stock traded as high as $25.44 and last traded at $25.11. Approximately 1,339,515 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 10,419,642 shares. The stock had previously closed at $24.78.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. Scotiabank lowered their price target on shares of AST SpaceMobile from $45.90 to $44.70 and set a "sector outperform" rating on the stock in a report on Friday, November 15th. UBS Group increased their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Finally, B. Riley boosted their target price on AST SpaceMobile from $26.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, August 29th.

AST SpaceMobile Trading Down 5.7 %

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 $6.77 billion, a price-to-earnings ratio of -11.02 and a beta of 1.60. The business has a 50 day moving average of $24.68 and a 200 day moving average of $21.61.

Insider Transactions at AST SpaceMobile

In related news, COO Shanti B. Gupta sold 80,000 shares of the business's stock in a transaction on Monday, September 30th. The stock was 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 directly owns 393,232 shares in the company, valued at $10,157,182.56. The trade was a 16.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Scott Wisniewski sold 2,700 shares of the business's stock in a transaction dated Monday, September 30th. The shares were 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 of the company's stock, valued at $16,476,699.20. This represents a 0.38 % decrease in their position. 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 ninety days. 41.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AST SpaceMobile

Institutional investors and hedge funds have recently made changes to their positions in the stock. Fairfield Financial Advisors LTD bought a new position in AST SpaceMobile in the 3rd quarter valued at about $26,000. Hollencrest Capital Management bought a new stake in shares of AST SpaceMobile in the third quarter valued at approximately $26,000. Rakuten Securities Inc. purchased a new stake in AST SpaceMobile during the 3rd quarter worth about $68,000. Sunbelt Securities Inc. boosted its holdings in AST SpaceMobile by 3,380.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company's stock valued at $91,000 after purchasing an additional 3,380 shares during the period. Finally, KBC Group NV purchased a new stake in shares of AST SpaceMobile in the 3rd quarter valued at about $104,000. Institutional investors and hedge funds 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.