AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 5.3% - Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s share price rose 5.3% during mid-day trading on Monday . The stock traded as high as $27.15 and last traded at $26.97. Approximately 3,196,333 shares were traded during trading, a decline of 70% from the average daily volume of 10,595,599 shares. The stock had previously closed at $25.62.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ASTS. Scotiabank boosted their price objective on shares of AST SpaceMobile from $28.00 to $45.90 and gave the company a "sector outperform" rating in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft boosted their price target on AST SpaceMobile from $22.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, September 4th. UBS Group raised their price objective on AST SpaceMobile from $13.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, August 15th. Finally, B. Riley lifted their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, August 29th.

AST SpaceMobile Trading Up 4.3 %

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 business's fifty day moving average is $27.49 and its 200-day moving average is $16.33. The stock has a market capitalization of $7.20 billion, a PE ratio of -21.38 and a beta of 1.62.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate 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, analysts anticipate that AST SpaceMobile, Inc. will post -0.88 EPS for the current fiscal year.

Insider Activity

In related news, President Scott Wisniewski sold 2,700 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $23.12, for a total transaction of $62,424.00. Following the completion of the sale, the president now owns 712,660 shares of the company's stock, valued at approximately $16,476,699.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Adriana Cisneros bought 4,934 shares of AST SpaceMobile stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $26.32 per share, with a total value of $129,862.88. Following the completion of the transaction, the director now owns 774,772 shares in the company, valued at approximately $20,391,999.04. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Scott Wisniewski sold 2,700 shares of the business's stock in a transaction on Monday, September 30th. The stock was sold at an average price of $23.12, for a total transaction of $62,424.00. Following the completion of the transaction, the president now owns 712,660 shares in the company, valued at $16,476,699.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,700 shares of company stock valued at $3,220,524 in the last three months. Corporate insiders own 41.80% of the company's stock.

Institutional Trading of AST SpaceMobile

Hedge funds and other institutional investors have recently modified their holdings of the business. Janus Henderson Group PLC boosted its stake in shares of AST SpaceMobile by 209.9% during the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company's stock valued at $21,606,000 after buying an additional 5,046,667 shares during the last quarter. Vanguard Group Inc. grew its holdings in AST SpaceMobile by 49.9% during the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company's stock worth $19,325,000 after acquiring an additional 2,217,531 shares in the last quarter. Masters Capital Management LLC bought a new stake in shares of AST SpaceMobile in the 1st quarter worth about $2,900,000. Oppenheimer & Co. Inc. acquired a new stake in shares of AST SpaceMobile in the 2nd quarter valued at about $9,270,000. Finally, Renaissance Technologies LLC bought a new position in shares of AST SpaceMobile during the second quarter worth about $4,757,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

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.