AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 1.8% – Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price traded up 1.8% on Thursday . The company traded as high as $24.22 and last traded at $23.98. 1,347,616 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 10,499,062 shares. The stock had previously closed at $23.56.

Analyst Ratings Changes

ASTS has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. UBS Group lifted their target price on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Scotiabank cut their price target on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a report on Friday, November 15th. Finally, B. Riley raised their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th.

AST SpaceMobile Trading Up 0.6 %

The business’s 50 day moving average price is $24.66 and its 200-day moving average price is $21.17. The company has a market cap of $6.80 billion, a price-to-earnings ratio of -11.08 and a beta of 1.60. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of AST SpaceMobile 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Huiwen Yao sold 45,000 shares of the business’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 sale, the chief technology officer now owns 55,000 shares in the company, valued at $1,334,300. This represents a 45.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,700 shares of company stock valued at $3,220,524 over the last quarter. 41.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On AST SpaceMobile

A number of hedge funds have recently made changes to their positions in ASTS. Amalgamated Bank grew its stake in AST SpaceMobile by 17.4% during the third quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock worth $120,000 after buying an additional 679 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of AST SpaceMobile by 5.5% in the 2nd quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock worth $180,000 after acquiring an additional 814 shares in the last quarter. Fairfield Financial Advisors LTD bought a new stake in AST SpaceMobile during the 3rd quarter worth approximately $26,000. Hollencrest Capital Management bought a new stake in AST SpaceMobile during the 3rd quarter worth approximately $26,000. Finally, Calton & Associates Inc. increased its holdings in AST SpaceMobile by 14.5% during the 3rd quarter. Calton & Associates Inc. now owns 12,600 shares of the company’s stock valued at $329,000 after purchasing an additional 1,600 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.