AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 3.4% After Analyst Upgrade

AST SpaceMobile, Inc. (NASDAQ:ASTS) traded up 3.4% on Monday after UBS Group raised their price target on the stock from $30.00 to $31.00. UBS Group currently has a buy rating on the stock. AST SpaceMobile traded as high as $25.17 and last traded at $25.05. 2,696,146 shares changed hands during trading, a decline of 75% from the average session volume of 10,645,036 shares. The stock had previously closed at $24.23.

ASTS has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft lifted their price objective on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. B. Riley lifted their price target on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Scotiabank upped their price target on shares of AST SpaceMobile from $28.00 to $45.90 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th.

Insider Transactions at AST SpaceMobile

In other news, President Scott Wisniewski sold 2,700 shares of the business’s stock in a transaction on 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 owns 712,660 shares of the company’s stock, valued at approximately $16,476,699.20. The trade was a 0.38 % 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. Also, COO Shanti B. Gupta sold 80,000 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. This represents a 16.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,700 shares of company stock valued at $3,220,524 over the last 90 days. Company insiders own 41.80% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ASTS. Geode Capital Management LLC boosted its stake in AST SpaceMobile by 9.4% during the third quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company’s stock valued at $85,450,000 after buying an additional 281,749 shares during the last quarter. K2 Principal Fund L.P. purchased a new stake in shares of AST SpaceMobile during the 3rd quarter worth approximately $232,000. Weiss Asset Management LP bought a new position in shares of AST SpaceMobile during the 3rd quarter valued at approximately $1,308,000. State Street Corp grew its holdings in shares of AST SpaceMobile by 14.8% in the third quarter. State Street Corp now owns 3,091,577 shares of the company’s stock valued at $80,845,000 after purchasing an additional 399,713 shares in the last quarter. Finally, IHT Wealth Management LLC increased its position in AST SpaceMobile by 21.1% in the third quarter. IHT Wealth Management LLC now owns 257,514 shares of the company’s stock worth $6,734,000 after purchasing an additional 44,862 shares during the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Trading Up 6.9 %

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 stock’s 50 day moving average is $25.63 and its 200-day moving average is $18.52. The company has a market cap of $6.98 billion, a PE ratio of -12.33 and a beta of 1.64.

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.