AST SpaceMobile (NASDAQ:ASTS) Trading 24.7% Higher – What’s Next?

by · The Markets Daily

AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) shares rose 24.7% during mid-day trading on Wednesday . The company traded as high as $30.35 and last traded at $30.25. 11,070,649 shares were traded during mid-day trading, an increase of 5% from the average session volume of 10,529,440 shares. The stock had previously closed at $24.26.

Analysts Set New Price Targets

ASTS has been the subject of a number of research reports. UBS Group raised their price objective on AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. B. Riley raised their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Scotiabank raised their price objective 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. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th.

Get Our Latest Research Report on AST SpaceMobile

AST SpaceMobile Stock Performance

The company has a fifty day simple moving average of $25.80 and a two-hundred day simple moving average of $18.01. The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38.

AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last released its earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.05. The company had revenue of $0.90 million for the quarter, compared to the consensus estimate of $2.00 million. Analysts predict that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Shanti B. Gupta sold 80,000 shares of the 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 completion of 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other AST SpaceMobile news, 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 completion of the transaction, the chief operating officer now owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Huiwen Yao sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the transaction, the chief technology officer now directly owns 55,000 shares of the company’s stock, valued at $1,334,300. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,700 shares of company stock valued at $3,220,524. 41.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On AST SpaceMobile

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of AST SpaceMobile by 49.9% during the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after buying an additional 2,217,531 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of AST SpaceMobile during the second quarter valued at approximately $278,000. Van ECK Associates Corp grew its holdings in shares of AST SpaceMobile by 141.1% during the third quarter. Van ECK Associates Corp now owns 103,437 shares of the company’s stock valued at $2,716,000 after buying an additional 60,530 shares during the last quarter. Americana Partners LLC purchased a new stake in shares of AST SpaceMobile during the third quarter valued at approximately $673,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of AST SpaceMobile by 2,418.4% during the third quarter. Nisa Investment Advisors LLC now owns 31,027 shares of the company’s stock valued at $811,000 after buying an additional 29,795 shares during the last quarter. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Company Profile

(Get Free Report)

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.

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