AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 1.3% – Still a Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares traded up 1.3% during trading on Wednesday . The stock traded as high as $25.44 and last traded at $25.11. 1,339,515 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 10,419,642 shares. The stock had previously closed at $24.78.

Wall Street Analysts Forecast Growth

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

AST SpaceMobile Stock Performance

The company has a 50-day simple moving average of $24.68 and a two-hundred day simple moving average of $21.62. 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 firm has a market capitalization of $6.66 billion, a P/E ratio of -10.85 and a beta of 1.60.

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 dated Monday, September 30th. The shares were sold at an average price of $23.12, for a total value of $62,424.00. Following the sale, the president now owns 712,660 shares in the company, valued at approximately $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 can be accessed through this link. Also, COO Shanti B. Gupta sold 80,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 393,232 shares of the company’s stock, valued at $10,157,182.56. This represents a 16.91 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,700 shares of company stock worth $3,220,524 over the last ninety days. 41.80% of the stock is owned by corporate insiders.

Institutional Trading of AST SpaceMobile

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Fairfield Financial Advisors LTD bought a new position in shares of AST SpaceMobile during the third quarter valued at $26,000. Hollencrest Capital Management bought a new position in AST SpaceMobile in the 3rd quarter worth about $26,000. Rakuten Securities Inc. purchased a new stake in AST SpaceMobile during the 3rd quarter valued at about $68,000. Sunbelt Securities Inc. increased its stake in AST SpaceMobile by 3,380.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock valued at $91,000 after purchasing an additional 3,380 shares in the last quarter. Finally, KBC Group NV purchased a new position in AST SpaceMobile in the third quarter worth about $104,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

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.