AST SpaceMobile (NASDAQ:ASTS) Shares Up 1% – Here’s What Happened

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price rose 1% during trading on Monday . The company traded as high as $24.71 and last traded at $24.33. Approximately 2,220,773 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 10,623,427 shares. The stock had previously closed at $24.10.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ASTS shares. Scotiabank decreased their target price 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. Deutsche Bank Aktiengesellschaft raised their target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. B. Riley upped their price target on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, UBS Group raised their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, November 15th.

AST SpaceMobile Price Performance

The company has a market cap of $6.75 billion, a PE ratio of -11.04 and a beta of 1.64. The business’s 50 day moving average price is $25.17 and its 200-day moving average price is $19.61. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31.

Insider Buying and Selling

In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $25.83, for a total value of $2,066,400.00. Following the transaction, the chief operating officer now directly owns 393,232 shares of the company’s stock, valued at $10,157,182.56. This represents a 16.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Adriana Cisneros bought 4,934 shares of AST SpaceMobile stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $26.32 per share, with a total value of $129,862.88. Following the completion of the purchase, the director now owns 774,772 shares in the company, valued at approximately $20,391,999.04. The trade was a 0.64 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 127,700 shares of company stock valued at $3,220,524 in the last quarter. Company insiders own 41.80% of the company’s stock.

Institutional Investors Weigh In On AST SpaceMobile

A number of institutional investors have recently modified their holdings of ASTS. Janus Henderson Group PLC grew its stake in AST SpaceMobile by 209.9% in the first quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock worth $21,606,000 after purchasing an additional 5,046,667 shares in the last quarter. Vanguard Group Inc. grew its position in shares of AST SpaceMobile by 49.9% in the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock worth $19,325,000 after acquiring an additional 2,217,531 shares in the last quarter. Privium Fund Management B.V. bought a new stake in shares of AST SpaceMobile in the 3rd quarter valued at approximately $21,476,000. Oppenheimer & Co. Inc. acquired a new stake in shares of AST SpaceMobile during the 2nd quarter valued at approximately $9,270,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in AST SpaceMobile by 228.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock worth $29,594,000 after purchasing an additional 787,566 shares during 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.