AST SpaceMobile (NASDAQ:ASTS) Trading 1% Higher – Here’s What Happened

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price rose 1% on Wednesday . The stock traded as high as $23.79 and last traded at $23.49. Approximately 2,293,361 shares were traded during trading, a decline of 78% from the average daily volume of 10,370,488 shares. The stock had previously closed at $23.25.

Analysts Set New Price Targets

A number of research analysts have commented on the company. UBS Group boosted their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Scotiabank lowered their price objective on shares of AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a research report on Friday, November 15th. B. Riley lifted their price target on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th.

AST SpaceMobile Trading Up 1.0 %

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 has a market cap of $6.81 billion, a P/E ratio of -11.08 and a beta of 1.60. The business has a fifty day simple moving average of $24.60 and a 200 day simple moving average of $22.11.

Insider Buying and Selling

In other AST SpaceMobile news, CTO Huiwen Yao sold 45,000 shares of the stock in a transaction that occurred 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 owns 55,000 shares in the company, valued at $1,334,300. This represents a 45.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Scott Wisniewski sold 2,700 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $23.12, for a total transaction of $62,424.00. Following the transaction, the president now owns 712,660 shares in the company, valued at $16,476,699.20. This represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 127,700 shares of company stock valued at $3,220,524. Insiders own 41.80% of the company’s stock.

Institutional Trading of AST SpaceMobile

Large investors have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. acquired a new position in shares of AST SpaceMobile during the second quarter valued at $278,000. Van ECK Associates Corp raised its position in AST SpaceMobile by 141.1% in the 3rd quarter. Van ECK Associates Corp now owns 103,437 shares of the company’s stock valued at $2,716,000 after buying an additional 60,530 shares during the last quarter. Algert Global LLC acquired a new position in shares of AST SpaceMobile during the 3rd quarter worth about $768,000. Americana Partners LLC acquired a new position in AST SpaceMobile during the third quarter worth $673,000. Finally, Oppenheimer & Co. Inc. lifted its position in shares of AST SpaceMobile by 6.0% in the third quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company’s stock valued at $22,125,000 after buying an additional 47,600 shares during the last quarter. 60.95% of the stock is 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.