AST SpaceMobile (NASDAQ:ASTS) Trading Up 1.1%

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares rose 1.1% on Thursday . The company traded as high as $29.28 and last traded at $28.61. Approximately 2,515,421 shares changed hands during trading, a decline of 76% from the average daily volume of 10,444,795 shares. The stock had previously closed at $28.30.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. UBS Group upped their target price on AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their target price on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. B. Riley boosted their target price on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Scotiabank increased their target price 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 Stock Up 1.7 %

The firm’s 50-day moving average price is $23.34 and its 200-day moving average price is $11.64. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38. The company has a market cap of $7.41 billion, a price-to-earnings ratio of -29.41 and a beta of 1.63.

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

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, Director Adriana Cisneros bought 4,934 shares of the stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the completion of the purchase, the director now directly owns 774,772 shares of the company’s stock, valued at $20,391,999.04. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 56.56% of the company’s stock.

Institutional Investors Weigh In On AST SpaceMobile

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of AST SpaceMobile by 49.9% during the 1st 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. American International Group Inc. boosted its holdings in AST SpaceMobile by 41.5% in the first quarter. American International Group Inc. now owns 56,527 shares of the company’s stock worth $164,000 after purchasing an additional 16,568 shares in the last quarter. Virtu Financial LLC acquired a new position in AST SpaceMobile during the fourth quarter worth $259,000. PNC Financial Services Group Inc. raised its holdings in AST SpaceMobile by 319.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 163,296 shares of the company’s stock valued at $985,000 after buying an additional 124,322 shares in the last quarter. Finally, NewGen Asset Management Ltd acquired a new stake in shares of AST SpaceMobile in the second quarter worth about $2,902,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.