AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 4.4% – Here’s What Happened

AST SpaceMobile, Inc. (NASDAQ:ASTS) traded up 4.4% during mid-day trading on Thursday . The stock traded as high as $22.08 and last traded at $22.03. 1,794,615 shares were traded during trading, a decline of 83% from the average session volume of 10,306,844 shares. The stock had previously closed at $21.10.

Wall Street Analysts Forecast Growth

ASTS has been the topic of several recent research reports. Scotiabank decreased their price target on shares of AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a research report on Friday, November 15th. UBS Group raised their target price on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, 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.

AST SpaceMobile Stock Up 2.1 %

The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The company’s 50-day moving average price is $23.97 and its 200 day moving average price is $22.56. The stock has a market capitalization of $6.24 billion, a P/E ratio of -10.16 and a beta of 1.60.

Insider Buying and Selling at AST SpaceMobile

In other news, 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 value of $1,091,700.00. Following the transaction, the chief technology officer now owns 55,000 shares of the company’s stock, valued at approximately $1,334,300. The trade was a 45.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 41.80% of the company’s stock.

Institutional Trading of AST SpaceMobile

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fairfield Financial Advisors LTD purchased a new position in shares of AST SpaceMobile during the third quarter valued at about $26,000. Hollencrest Capital Management purchased a new position in AST SpaceMobile during the 3rd quarter valued at approximately $26,000. Rakuten Securities Inc. bought a new stake in AST SpaceMobile in the 3rd quarter worth approximately $68,000. Sunbelt Securities Inc. raised its holdings in shares of AST SpaceMobile by 3,380.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock worth $91,000 after acquiring an additional 3,380 shares in the last quarter. Finally, KBC Group NV purchased a new stake in shares of AST SpaceMobile during the 3rd quarter worth approximately $104,000. 60.95% of the stock is currently owned by institutional investors.

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.