AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) shot up 1.2% during trading on Monday . The stock traded as high as $24.21 and last traded at $24.13. 1,354,927 shares were traded during trading, a decline of 87% from the average session volume of 10,511,584 shares. The stock had previously closed at $23.85.
Wall Street Analysts Forecast Growth
ASTS has been the subject of a number of analyst reports. B. Riley increased their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft upped their target price on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Scotiabank upped their target price on AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Finally, UBS Group upped their target price on AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, August 15th.
Get Our Latest Analysis on AST SpaceMobile
AST SpaceMobile Stock Performance
AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.05. The firm had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $2.00 million. On average, research analysts anticipate that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current year.
Insider Buying and Selling at AST SpaceMobile
In other news, President Scott Wisniewski sold 2,700 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were 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 approximately $16,476,699.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Adriana Cisneros acquired 4,934 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $26.32 per share, with a total value of $129,862.88. Following the transaction, the director now directly owns 774,772 shares of the company’s stock, valued at $20,391,999.04. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the president now directly owns 712,660 shares of the company’s stock, valued at $16,476,699.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,700 shares of company stock worth $3,220,524 over the last quarter. Insiders own 41.80% of the company’s stock.
Institutional Investors Weigh In On AST SpaceMobile
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. acquired a new position in AST SpaceMobile in the 1st quarter valued at about $45,000. Capstone Investment Advisors LLC acquired a new position in shares of AST SpaceMobile during the first quarter worth about $580,000. BNP Paribas acquired a new position in shares of AST SpaceMobile during the first quarter worth about $43,000. Vanguard Group Inc. grew its position in shares of AST SpaceMobile by 49.9% during the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock worth $19,325,000 after buying an additional 2,217,531 shares in the last quarter. Finally, American International Group Inc. grew its stake in shares of AST SpaceMobile by 41.5% in the first quarter. American International Group Inc. now owns 56,527 shares of the company’s stock valued at $164,000 after buying an additional 16,568 shares in the last quarter. Institutional investors and hedge funds 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.
Recommended Stories
- Five stocks we like better than AST SpaceMobile
- What is the Dow Jones Industrial Average (DJIA)?
- Intel: Is Now the Time to Be Brave?Â
- Business Services Stocks Investing
- Carnival or Royal Caribbean—Which Cruise Stock Has More Upside?
- With Risk Tolerance, One Size Does Not Fit All
- Summit Therapeutics: Is Their Lung Cancer Drug a Game Changer?
Receive News & Ratings for AST SpaceMobile Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AST SpaceMobile and related companies with MarketBeat.com's FREE daily email newsletter.