UBS Group Issues Positive Forecast for AST SpaceMobile (NASDAQ:ASTS) Stock Price

AST SpaceMobile (NASDAQ:ASTS - Free Report) had its target price raised by UBS Group from $30.00 to $31.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also recently issued research reports about the stock. B. Riley upped their price target on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, August 29th. Scotiabank boosted their price objective on AST SpaceMobile from $28.00 to $45.90 and gave the company a "sector outperform" rating in a research note on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on AST SpaceMobile from $22.00 to $63.00 and gave the stock a "buy" rating in a research note on Wednesday, September 4th.

AST SpaceMobile Trading Down 9.6 %

Shares of ASTS traded down $2.57 during mid-day trading on Friday, reaching $24.23. 17,816,823 shares of the company were exchanged, compared to its average volume of 10,680,669. The business has a 50 day simple moving average of $25.67 and a two-hundred day simple moving average of $18.14. The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38. The stock has a market capitalization of $6.53 billion, a PE ratio of -11.24 and a beta of 1.64. AST SpaceMobile has a 52 week low of $1.97 and a 52 week high of $39.08.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.05. The firm had revenue of $0.90 million for the quarter, compared to the consensus estimate of $2.00 million. On average, analysts predict that AST SpaceMobile will post -0.72 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Shanti B. Gupta sold 80,000 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now owns 393,232 shares in the company, valued at $10,157,182.56. The trade was a 16.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Scott Wisniewski sold 2,700 shares of the company's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $23.12, for a total value of $62,424.00. Following the transaction, the president now directly owns 712,660 shares in the company, valued at $16,476,699.20. The trade was a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,700 shares of company stock worth $3,220,524. Company insiders own 41.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Fairfield Financial Advisors LTD bought a new position in AST SpaceMobile in the 3rd quarter valued at about $26,000. Hollencrest Capital Management bought a new position in shares of AST SpaceMobile in the third quarter valued at approximately $26,000. Rakuten Securities Inc. purchased a new position in shares of AST SpaceMobile during the third quarter valued at approximately $68,000. Black Maple Capital Management LP purchased a new position in shares of AST SpaceMobile during the first quarter valued at approximately $87,000. Finally, KBC Group NV purchased a new stake in AST SpaceMobile in the 3rd quarter valued at $104,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.