AST SpaceMobile (NASDAQ:ASTS) Trading 3.4% Higher After Analyst Upgrade

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s share price rose 3.4% during mid-day trading on Monday after UBS Group raised their price target on the stock from $30.00 to $31.00. UBS Group currently has a buy rating on the stock. AST SpaceMobile traded as high as $25.17 and last traded at $25.05. Approximately 2,696,146 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 10,645,036 shares. The stock had previously closed at $24.23.

Several other equities research analysts have also issued reports on the stock. B. Riley increased their target price on shares of 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 increased their target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a "buy" rating in a report on Wednesday, September 4th. Finally, Scotiabank increased their target price on shares of AST SpaceMobile from $28.00 to $45.90 and gave the stock a "sector outperform" rating in a report on Monday, August 26th.

Insider Buying and Selling at AST SpaceMobile

In related news, President Scott Wisniewski sold 2,700 shares of the firm's stock in a transaction on Monday, September 30th. The shares were 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 of the company's stock, valued at approximately $16,476,699.20. This trade represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Huiwen Yao sold 45,000 shares of the firm's stock in a transaction on 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 completion of the transaction, the chief technology officer now directly owns 55,000 shares of the company's stock, valued at approximately $1,334,300. This trade represents a 45.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,700 shares of company stock valued at $3,220,524 in the last three months. 41.80% of the stock is currently owned by corporate insiders.

Institutional Trading of AST SpaceMobile

Institutional investors have recently bought and sold shares of the stock. Fairfield Financial Advisors LTD bought a new stake in AST SpaceMobile in the third quarter worth $26,000. Hollencrest Capital Management bought a new stake in shares of AST SpaceMobile during the third quarter worth $26,000. Rakuten Securities Inc. purchased a new position in shares of AST SpaceMobile during the third quarter valued at $68,000. Black Maple Capital Management LP purchased a new position in shares of AST SpaceMobile during the first quarter valued at $87,000. Finally, Sunbelt Securities Inc. increased its stake 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 valued at $91,000 after buying an additional 3,380 shares during the period. 60.95% of the stock is currently owned by institutional investors.

AST SpaceMobile Stock Performance

The stock has a market cap of $6.95 billion, a PE ratio of -12.17 and a beta of 1.64. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83. The firm has a 50 day moving average price of $25.62 and a 200 day moving average price of $18.69.

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.