Investors Purchase High Volume of AST SpaceMobile Call Options (NASDAQ:ASTS)

AST SpaceMobile, Inc. (NASDAQ:ASTS) was the target of some unusual options trading on Wednesday. Investors bought 102,118 call options on the stock. This is an increase of approximately 24% compared to the typical volume of 82,099 call options.

AST SpaceMobile Stock Down 3.9 %

Shares of NASDAQ ASTS opened at $26.80 on Friday. The business has a fifty day simple moving average of $25.67 and a 200 day simple moving average of $18.14. 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 has a one year low of $1.97 and a one year high of $39.08.

AST SpaceMobile (NASDAQ:ASTS) last issued its earnings results on Wednesday, August 14th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. The firm had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.00 million. As a group, equities research analysts expect that AST SpaceMobile will post -0.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ASTS shares. B. Riley upped their price target on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft upped their price target on AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Scotiabank upped their price target on AST SpaceMobile from $28.00 to $45.90 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Finally, UBS Group upped their price target on AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, August 15th.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $23.12, for a total transaction of $62,424.00. Following the completion of the sale, the president now owns 712,660 shares of the company’s stock, valued at $16,476,699.20. This represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Adriana Cisneros bought 4,934 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $26.32 per share, with a total value of $129,862.88. Following the transaction, the director now directly owns 774,772 shares of the company’s stock, valued at approximately $20,391,999.04. This trade represents a 0.64 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 127,700 shares of company stock valued at $3,220,524. 41.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ASTS. Amalgamated Bank boosted its position in AST SpaceMobile by 17.4% in the third quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock valued at $120,000 after buying an additional 679 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of AST SpaceMobile by 5.5% in the 2nd quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock worth $180,000 after acquiring an additional 814 shares in the last quarter. Fairfield Financial Advisors LTD bought a new stake in AST SpaceMobile during the 3rd quarter worth approximately $26,000. Hollencrest Capital Management bought a new stake in AST SpaceMobile during the 3rd quarter worth approximately $26,000. Finally, Calton & Associates Inc. increased its holdings in AST SpaceMobile by 14.5% during the 3rd quarter. Calton & Associates Inc. now owns 12,600 shares of the company’s stock valued at $329,000 after purchasing an additional 1,600 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.