AST SpaceMobile (NASDAQ:ASTS) Shares Up 0.8% - Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s stock price traded up 0.8% during trading on Tuesday . The company traded as high as $24.70 and last traded at $24.49. 1,477,418 shares were traded during trading, a decline of 86% from the average session volume of 10,434,182 shares. The stock had previously closed at $24.30.

Analysts Set New Price Targets

Several brokerages recently weighed in on ASTS. UBS Group raised their price target on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft lifted their target price on AST SpaceMobile from $22.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. B. Riley upped their price target on AST SpaceMobile from $26.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, August 29th. 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 report on Friday, November 15th.

AST SpaceMobile Stock Performance

The business has a 50-day moving average of $24.66 and a 200 day moving average of $21.60. 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 company has a market cap of $7.18 billion, a PE ratio of -11.69 and a beta of 1.60.

Insider Activity

In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of the company's stock in a transaction dated 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 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Scott Wisniewski sold 2,700 shares of the firm's stock in a transaction dated 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 transaction, the president now directly owns 712,660 shares in the company, valued at $16,476,699.20. This trade 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 quarter. 41.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ASTS. SG Americas Securities LLC purchased a new position in shares of AST SpaceMobile in the second quarter valued at about $334,000. Byrne Asset Management LLC bought a new stake in shares of AST SpaceMobile during the second quarter valued at approximately $240,000. Bank of New York Mellon Corp lifted its holdings in shares of AST SpaceMobile by 56.4% in the second quarter. Bank of New York Mellon Corp now owns 472,769 shares of the company's stock worth $5,489,000 after buying an additional 170,440 shares in the last quarter. NewGen Asset Management Ltd purchased a new position in shares of AST SpaceMobile in the second quarter worth $2,902,000. Finally, Hussman Strategic Advisors Inc. bought a new position in shares of AST SpaceMobile during the second quarter worth $610,000. 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.