AST SpaceMobile (NASDAQ:ASTS) Shares Up 6.5% - What's Next?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) rose 6.5% during trading on Monday . The company traded as high as $28.25 and last traded at $27.38. Approximately 3,673,867 shares changed hands during trading, a decline of 70% from the average daily volume of 12,121,258 shares. The stock had previously closed at $25.71.

Analyst Ratings Changes

A number of analysts recently issued reports on ASTS shares. Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Scotiabank restated an "outperform" rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Finally, UBS Group boosted their target price on AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AST SpaceMobile has a consensus rating of "Buy" and an average price target of $42.98.

AST SpaceMobile Trading Down 4.0 %

The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The company has a market cap of $8.30 billion, a price-to-earnings ratio of -12.36 and a beta of 1.62. The business has a fifty day simple moving average of $26.28 and a 200 day simple moving average of $25.16.

Insider Activity

In related news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $30.73, for a total value of $614,600.00. Following the sale, the director now directly owns 52,628 shares of the company's stock, valued at approximately $1,617,258.44. This represents a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 41.80% of the company's stock.

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Institutional Trading of AST SpaceMobile

Institutional investors and hedge funds have recently modified their holdings of the business. Summit Securities Group LLC acquired a new stake in shares of AST SpaceMobile during the fourth quarter valued at $37,000. Bernard Wealth Management Corp. purchased a new stake in AST SpaceMobile in the 4th quarter valued at about $42,000. Golden State Wealth Management LLC purchased a new stake in AST SpaceMobile in the 4th quarter valued at about $46,000. CIBC Private Wealth Group LLC lifted its holdings in shares of AST SpaceMobile by 106.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock worth $53,000 after acquiring an additional 1,222 shares during the period. Finally, AlphaQuest LLC purchased a new position in AST SpaceMobile during the fourth quarter worth approximately $67,000. 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.