AST SpaceMobile (NASDAQ:ASTS) Trading Up 7.5%

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price traded up 7.5% on Friday . The company traded as high as $29.10 and last traded at $28.81. 5,733,219 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 10,339,671 shares. The stock had previously closed at $26.79.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ASTS. UBS Group increased their price objective on AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, August 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 report on Wednesday, September 4th. B. Riley upped their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Scotiabank raised their price target on AST SpaceMobile from $28.00 to $45.90 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th.

AST SpaceMobile Trading Up 12.5 %

The firm has a 50-day moving average of $22.32 and a two-hundred day moving average of $10.98. The firm has a market capitalization of $8.12 billion, a P/E ratio of -29.40 and a beta of 1.63. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.83.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. The business had revenue of $0.90 million for the quarter, compared to analyst estimates of $2.00 million. On average, analysts anticipate that AST SpaceMobile, Inc. will post -0.88 EPS for the current year.

Insider Buying and Selling

In related news, Director Adriana Cisneros purchased 4,934 shares of the firm’s 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 transaction, the director now directly owns 774,772 shares in the company, valued at approximately $20,391,999.04. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 56.56% of the stock is owned by insiders.

Institutional Trading of AST SpaceMobile

A number of hedge funds and other institutional investors have recently modified their holdings of ASTS. BNP Paribas bought a new position in AST SpaceMobile in the first quarter valued at about $43,000. Principal Financial Group Inc. purchased a new position in AST SpaceMobile during the first quarter worth $45,000. Victory Capital Management Inc. bought a new position in AST SpaceMobile during the 4th quarter valued at about $65,000. Cantor Fitzgerald L. P. purchased a new stake in shares of AST SpaceMobile in the fourth quarter worth approximately $66,000. Finally, Rathbones Group PLC bought a new stake in shares of AST SpaceMobile during the fourth quarter worth $76,000. 60.95% of the stock is owned by hedge funds and other 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.