AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 1% – Here’s What Happened

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares were up 1% on Monday . The stock traded as high as $24.71 and last traded at $24.33. Approximately 2,220,773 shares changed hands during trading, a decline of 79% from the average daily volume of 10,623,427 shares. The stock had previously closed at $24.10.

Analyst Ratings Changes

A number of research firms recently issued reports on ASTS. B. Riley raised 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. Scotiabank lowered their target price on 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. Deutsche Bank Aktiengesellschaft boosted their target price on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, UBS Group increased their price target on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th.

AST SpaceMobile Stock Performance

The stock’s 50-day moving average is $25.37 and its 200 day moving average is $19.31. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of -12.26 and a beta of 1.64. 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, President Scott Wisniewski sold 2,700 shares of the company’s stock in a transaction 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 transaction, 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 legal filing with the SEC, which is available at this link. Also, COO Shanti B. Gupta sold 80,000 shares of the firm’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $25.83, for a total value of $2,066,400.00. Following the completion of the sale, the chief operating officer now directly owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. This trade represents a 16.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 127,700 shares of company stock valued at $3,220,524. Corporate insiders own 41.80% of the company’s stock.

Institutional Trading of AST SpaceMobile

A number of institutional investors have recently added to or reduced their stakes in ASTS. Janus Henderson Group PLC boosted its stake in shares of AST SpaceMobile by 209.9% during the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock worth $21,606,000 after acquiring an additional 5,046,667 shares in the last quarter. Vanguard Group Inc. raised its holdings in AST SpaceMobile by 49.9% during the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock worth $19,325,000 after purchasing an additional 2,217,531 shares during the last quarter. Privium Fund Management B.V. purchased a new stake in AST SpaceMobile during the third quarter worth $21,476,000. Oppenheimer & Co. Inc. acquired a new stake in AST SpaceMobile in the second quarter valued at $9,270,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of AST SpaceMobile by 228.9% in 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 in 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.