AST SpaceMobile (NASDAQ:ASTS) Shares Up 8.1% – Still a Buy?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) traded up 8.1% during trading on Monday . The company traded as high as $23.99 and last traded at $23.77. 3,934,967 shares changed hands during trading, a decline of 63% from the average session volume of 10,523,589 shares. The stock had previously closed at $21.99.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ASTS. Deutsche Bank Aktiengesellschaft lifted their price target on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Scotiabank boosted their price target on AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a report on Monday, August 26th. B. Riley upped their price target on 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 boosted 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.

AST SpaceMobile Trading Up 15.0 %

The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38. The firm’s 50-day moving average is $25.80 and its two-hundred day moving average is $18.01.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly 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 business had revenue of $0.90 million during the quarter, compared to the consensus estimate of $2.00 million. As a group, analysts anticipate that AST SpaceMobile, Inc. will post -0.88 EPS for the current year.

Insider Activity

In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of AST SpaceMobile stock in a transaction on Monday, September 30th. The shares were sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the completion of the transaction, the chief operating officer now directly owns 393,232 shares of the company’s stock, valued at $10,157,182.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other AST SpaceMobile news, Director Adriana Cisneros purchased 4,934 shares of AST SpaceMobile stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the completion of the acquisition, the director now owns 774,772 shares in the company, valued at $20,391,999.04. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Shanti B. Gupta sold 80,000 shares of the firm’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 sale, the chief operating officer now directly owns 393,232 shares of the company’s stock, valued at $10,157,182.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 127,700 shares of company stock valued at $3,220,524 in the last ninety days. Insiders own 41.80% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC boosted its stake in AST SpaceMobile by 230.5% in the third quarter. FMR LLC now owns 39,638 shares of the company’s stock valued at $1,037,000 after acquiring an additional 27,644 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of AST SpaceMobile by 60.9% during the third quarter. The Manufacturers Life Insurance Company now owns 82,400 shares of the company’s stock worth $2,155,000 after acquiring an additional 31,191 shares during the last quarter. Qsemble Capital Management LP acquired a new position in shares of AST SpaceMobile during the third quarter valued at about $1,354,000. Algert Global LLC acquired a new stake in AST SpaceMobile in the 3rd quarter worth approximately $768,000. Finally, Kingsview Wealth Management LLC purchased a new stake in AST SpaceMobile during the 3rd quarter worth approximately $586,000. Institutional investors 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.