AST SpaceMobile (NASDAQ:ASTS) Shares Up 0.7% – Still a Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price traded up 0.7% during trading on Friday . The company traded as high as $23.29 and last traded at $23.16. 2,935,548 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 10,397,236 shares. The stock had previously closed at $23.00.

Wall Street Analyst Weigh In

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

AST SpaceMobile Price Performance

The company has a market cap of $6.78 billion, a PE ratio of -11.04 and a beta of 1.60. The business has a 50 day moving average of $24.68 and a 200 day moving average of $21.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

Insider Transactions at AST SpaceMobile

In related news, CTO Huiwen Yao sold 45,000 shares of the stock in a transaction dated 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 transaction, the chief technology officer now directly owns 55,000 shares in the company, valued at $1,334,300. This trade represents a 45.00 % decrease in their position. The sale was disclosed in a legal 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 that occurred 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 directly owns 712,660 shares of the company’s stock, 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 ninety days, insiders sold 127,700 shares of company stock valued at $3,220,524. Company insiders own 41.80% of the company’s stock.

Institutional Investors Weigh In On AST SpaceMobile

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