AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 8.1% - Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) shares shot up 8.1% on Monday . The stock traded as high as $23.99 and last traded at $23.77. 3,934,967 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 10,523,589 shares. The stock had previously closed at $21.99.

Analyst Ratings Changes

ASTS has been the topic of several analyst reports. UBS Group lifted their price target on shares of AST SpaceMobile from $13.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, August 15th. B. Riley upped their target price on AST SpaceMobile from $26.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, August 29th. Scotiabank raised their price target on AST SpaceMobile from $28.00 to $45.90 and gave the stock a "sector outperform" rating in a report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of 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 8.0 %

The stock has a 50-day simple moving average of $25.99 and a 200 day simple moving average of $17.70. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.83. The company has a market cap of $6.40 billion, a price-to-earnings ratio of -19.02 and a beta of 1.64.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its earnings results on Wednesday, August 14th. The company reported ($0.14) EPS for the quarter, beating analysts' consensus estimates of ($0.19) by $0.05. The firm had revenue of $0.90 million during the quarter, compared to analysts' expectations of $2.00 million. As a group, equities research analysts predict that AST SpaceMobile, Inc. will post -0.88 EPS for the current fiscal year.

Insider Activity

In related news, COO Shanti B. Gupta sold 80,000 shares of the business'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 completion of the transaction, the chief operating officer now directly owns 393,232 shares in the company, valued at $10,157,182.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO Shanti B. Gupta sold 80,000 shares of the firm's stock in a transaction dated 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 sale, the chief operating officer now directly owns 393,232 shares of the company's stock, valued at $10,157,182.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Adriana Cisneros purchased 4,934 shares of the firm's stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $26.32 per share, with a total value of $129,862.88. Following the completion of the acquisition, the director now directly owns 774,772 shares of the company's stock, valued at $20,391,999.04. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 127,700 shares of company stock valued at $3,220,524 in the last ninety days. Insiders own 41.80% of the company's stock.

Institutional Trading of AST SpaceMobile

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASTS. Janus Henderson Group PLC raised its holdings in AST SpaceMobile by 209.9% in the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company's stock worth $21,606,000 after purchasing an additional 5,046,667 shares during the period. Vanguard Group Inc. lifted its position in shares of AST SpaceMobile by 49.9% during the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company's stock valued at $19,325,000 after buying an additional 2,217,531 shares in the last quarter. Masters Capital Management LLC acquired a new stake in AST SpaceMobile in the 1st quarter valued at $2,900,000. Privium Fund Management B.V. acquired a new position in AST SpaceMobile during the third quarter worth $21,476,000. Finally, Oppenheimer & Co. Inc. acquired a new position in AST SpaceMobile during the second quarter worth $9,270,000. 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.

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