AST SpaceMobile (NASDAQ:ASTS) Trading 0.8% Higher – Still a Buy?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) traded up 0.8% during trading on Monday . The company traded as high as $23.73 and last traded at $23.66. 1,363,683 shares were traded during mid-day trading, a decline of 87% from the average session volume of 10,448,456 shares. The stock had previously closed at $23.48.

Analysts Set New Price Targets

ASTS has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Scotiabank reduced 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. UBS Group lifted their target price on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, B. Riley upped their target price on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 29th.

AST SpaceMobile Price Performance

The company’s 50-day simple moving average is $24.66 and its 200-day simple moving average is $21.60. The stock has a market capitalization of $6.77 billion, a P/E ratio of -11.02 and a beta of 1.60. 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 Activity at AST SpaceMobile

In related news, COO Shanti B. Gupta sold 80,000 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer now owns 393,232 shares in the company, valued at approximately $10,157,182.56. This represents a 16.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Scott Wisniewski sold 2,700 shares of the firm’s stock in a transaction that occurred 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 sale, the president now owns 712,660 shares of the company’s stock, valued at $16,476,699.20. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,700 shares of company stock worth $3,220,524. Insiders own 41.80% of the company’s stock.

Hedge Funds Weigh In On AST SpaceMobile

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