AST SpaceMobile (NASDAQ:ASTS) Trading 4.4% Higher – Time to Buy?

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Scotiabank dropped their price target on 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 lifted their price objective on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, November 15th.

AST SpaceMobile Trading Up 10.8 %

The company has a market cap of $6.94 billion, a P/E ratio of -11.31 and a beta of 1.60. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average price of $23.87 and a 200-day moving average price of $22.64.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, CTO Huiwen Yao sold 45,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the transaction, the chief technology officer now owns 55,000 shares of the company’s stock, valued at $1,334,300. The trade was a 45.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 41.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ASTS. Privium Fund Management B.V. acquired a new stake in AST SpaceMobile during the 3rd quarter valued at $21,476,000. Oppenheimer & Co. Inc. bought a new position in shares of AST SpaceMobile in the second quarter valued at about $9,270,000. Charles Schwab Investment Management Inc. lifted its stake in shares of AST SpaceMobile by 228.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock worth $29,594,000 after buying an additional 787,566 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of AST SpaceMobile during the 2nd quarter worth about $4,757,000. Finally, State Street Corp grew its stake in AST SpaceMobile by 14.8% in the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company’s stock valued at $80,845,000 after buying an additional 399,713 shares during the last quarter. 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.