AST SpaceMobile (NASDAQ:ASTS) Trading 0.2% Higher – Time to Buy?

by · The Markets Daily

AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) shares traded up 0.2% during mid-day trading on Tuesday . The stock traded as high as $24.36 and last traded at $23.98. 1,443,373 shares were traded during mid-day trading, a decline of 86% from the average session volume of 10,493,629 shares. The stock had previously closed at $23.94.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ASTS shares. Deutsche Bank Aktiengesellschaft boosted their price target on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. UBS Group lifted their price target on shares of AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. B. Riley increased their price objective on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Scotiabank lifted their target price on shares of AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a report on Monday, August 26th.

View Our Latest Research Report on ASTS

AST SpaceMobile Price Performance

The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.83. The company’s 50-day moving average price is $26.53 and its two-hundred day moving average price is $17.13. The company has a market cap of $6.37 billion, a P/E ratio of -19.18 and a beta of 1.64.

AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $0.90 million for the quarter, compared to the consensus estimate of $2.00 million. As a group, sell-side analysts expect that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current year.

Insider Activity at AST SpaceMobile

In other news, CTO Huiwen Yao sold 45,000 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total value of $1,091,700.00. Following the completion of the sale, the chief technology officer now directly owns 55,000 shares in the company, valued at approximately $1,334,300. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, 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 sale, the chief operating officer now owns 393,232 shares in the company, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Huiwen Yao sold 45,000 shares of the company’s stock in a transaction 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 owns 55,000 shares of the company’s stock, valued at approximately $1,334,300. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 127,700 shares of company stock valued at $3,220,524. Company insiders own 41.80% of the company’s stock.

Institutional Trading of AST SpaceMobile

Institutional investors and hedge funds have recently modified their holdings of the company. Amalgamated Bank raised its holdings in shares of AST SpaceMobile by 17.4% in the 3rd quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock worth $120,000 after buying an additional 679 shares in the last quarter. Victory Capital Management Inc. raised its stake in AST SpaceMobile by 5.5% during the second quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock worth $180,000 after acquiring an additional 814 shares in the last quarter. Fairfield Financial Advisors LTD bought a new position in shares of AST SpaceMobile during the third quarter valued at $26,000. Hollencrest Capital Management acquired a new stake in shares of AST SpaceMobile in the 3rd quarter valued at $26,000. Finally, Calton & Associates Inc. increased its position in shares of AST SpaceMobile by 14.5% during the 3rd quarter. Calton & Associates Inc. now owns 12,600 shares of the company’s stock worth $329,000 after purchasing an additional 1,600 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors.

About AST SpaceMobile

(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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