AST SpaceMobile (NASDAQ:ASTS) Shares Up 0.2% – Time to Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price traded up 0.2% during mid-day trading on Tuesday . The company traded as high as $24.36 and last traded at $23.98. 1,443,373 shares traded hands during trading, a decline of 86% from the average session volume of 10,493,629 shares. The stock had previously closed at $23.94.

Wall Street Analyst Weigh In

ASTS has been the topic of several research reports. Scotiabank boosted their target price 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. Deutsche Bank Aktiengesellschaft boosted 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 upped their price objective on AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, B. Riley lifted their target price on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th.

AST SpaceMobile Stock Down 6.7 %

The firm has a market cap of $6.07 billion, a P/E ratio of -18.02 and a beta of 1.64. The firm’s fifty day moving average is $26.29 and its 200 day moving average is $17.32. The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38.

AST SpaceMobile (NASDAQ:ASTS) last released its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share 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 analyst estimates of $2.00 million. As a group, equities research analysts anticipate that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current fiscal year.

Insider Buying and Selling

In other AST SpaceMobile news, CTO Huiwen Yao sold 45,000 shares of AST SpaceMobile stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $24.26, for a total value of $1,091,700.00. Following the completion of the transaction, the chief technology officer now directly owns 55,000 shares of the company’s stock, valued at $1,334,300. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Adriana Cisneros acquired 4,934 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $26.32 per share, with a total value of $129,862.88. Following the completion of the purchase, the director now directly owns 774,772 shares of the company’s stock, valued at $20,391,999.04. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Huiwen Yao sold 45,000 shares of the firm’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 completion of the sale, the chief technology officer now directly owns 55,000 shares in the company, valued at approximately $1,334,300. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 127,700 shares of company stock valued at $3,220,524. 41.80% of the stock is owned by company insiders.

Institutional Trading of AST SpaceMobile

Several institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC boosted its stake in shares of AST SpaceMobile by 209.9% in the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock valued at $21,606,000 after purchasing an additional 5,046,667 shares in the last quarter. Vanguard Group Inc. boosted its position in AST SpaceMobile by 49.9% in the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after buying an additional 2,217,531 shares in the last quarter. Masters Capital Management LLC bought a new stake in shares of AST SpaceMobile during the first quarter worth $2,900,000. Privium Fund Management B.V. acquired a new position in shares of AST SpaceMobile during the third quarter worth $21,476,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of AST SpaceMobile in the 2nd quarter valued at $9,270,000. 60.95% of the stock is currently owned by institutional investors.

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.