AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 3.4% - Here's What Happened

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) rose 3.4% during trading on Monday . The company traded as high as $25.18 and last traded at $24.79. Approximately 3,375,878 shares changed hands during trading, a decline of 36% from the average daily volume of 5,276,686 shares. The stock had previously closed at $23.97.

Analyst Ratings Changes

ASTS has been the topic of a number of research reports. UBS Group increased their price objective on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Scotiabank lowered their price target 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.

AST SpaceMobile Stock Up 0.7 %

The stock has a fifty day moving average of $23.87 and a 200-day moving average of $22.79. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of -11.39 and a beta of 1.64. The company has a current ratio of 5.80, a quick 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 business's stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the transaction, the chief technology officer now owns 55,000 shares in the company, valued at approximately $1,334,300. The trade was a 45.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 41.80% of the stock is owned by company insiders.

Institutional Trading of AST SpaceMobile

Several institutional investors have recently bought and sold shares of the stock. Fairfield Financial Advisors LTD acquired a new stake in AST SpaceMobile in the 3rd quarter valued at about $26,000. Hollencrest Capital Management bought a new position in shares of AST SpaceMobile during the 3rd quarter valued at about $26,000. Rakuten Securities Inc. acquired a new position in shares of AST SpaceMobile in the third quarter valued at approximately $68,000. Sunbelt Securities Inc. grew its holdings in shares of AST SpaceMobile by 3,380.0% during the third quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company's stock worth $91,000 after buying an additional 3,380 shares in the last quarter. Finally, KBC Group NV bought a new stake in shares of AST SpaceMobile in the third quarter worth $104,000. Institutional investors and hedge funds own 60.95% of the company's stock.

AST SpaceMobile Company Profile

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.