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AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 1.8% - What's Next?

AST SpaceMobile logo with Computer and Technology background

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) rose 1.8% during mid-day trading on Wednesday . The company traded as high as $24.95 and last traded at $23.82. Approximately 3,050,916 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 10,616,353 shares. The stock had previously closed at $23.39.

Analyst Ratings Changes

ASTS has been the subject of several recent analyst reports. UBS Group upped their price target on AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. B. Riley raised their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft raised their target price on shares of 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 reduced 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.

View Our Latest Research Report on ASTS

AST SpaceMobile Price Performance

The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The stock's fifty day moving average price is $25.26 and its two-hundred day moving average price is $19.46. The firm has a market capitalization of $6.77 billion, a price-to-earnings ratio of -11.24 and a beta of 1.64.

Insider Buying and Selling

In other news, President Scott Wisniewski sold 2,700 shares of AST SpaceMobile stock in a transaction on Monday, September 30th. The stock was sold at an average price of $23.12, for a total value of $62,424.00. Following the completion of the sale, the president now owns 712,660 shares of the company's stock, valued at $16,476,699.20. The trade was a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Shanti B. Gupta sold 80,000 shares of the firm's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $25.83, for a total transaction 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. This represents a 16.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,700 shares of company stock valued at $3,220,524 over the last quarter. Company insiders own 41.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Fairfield Financial Advisors LTD bought a new position in AST SpaceMobile during the 3rd quarter worth approximately $26,000. Hollencrest Capital Management bought a new position in shares of AST SpaceMobile in the 3rd quarter worth about $26,000. Rakuten Securities Inc. acquired a new position in shares of AST SpaceMobile in the 3rd quarter valued at about $68,000. Sunbelt Securities Inc. boosted its stake in AST SpaceMobile by 3,380.0% in the third quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company's stock valued at $91,000 after acquiring an additional 3,380 shares during the period. Finally, KBC Group NV bought a new position in shares of AST SpaceMobile during the third quarter valued at approximately $104,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

AST SpaceMobile Company Profile

(Get Free Report)

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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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.

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