AST SpaceMobile (NASDAQ:ASTS) Shares Down 0.4%

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price dropped 0.4% during mid-day trading on Thursday . The stock traded as low as $24.26 and last traded at $24.30. Approximately 2,966,046 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 10,490,461 shares. The stock had previously closed at $24.39.

Analysts Set New Price Targets

ASTS has been the subject of several recent research reports. UBS Group increased their price target on shares of AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price target on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Scotiabank increased their price target on shares of 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, B. Riley increased their price target 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.

AST SpaceMobile Price Performance

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 stock has a market capitalization of $6.23 billion, a P/E ratio of -24.54 and a beta of 1.63. The company’s 50 day simple moving average is $25.00 and its two-hundred day simple moving average is $12.57.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) earnings per share 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, equities analysts expect that AST SpaceMobile, Inc. will post -0.88 EPS for the current fiscal year.

Insider Activity

In related news, Director Adriana Cisneros purchased 4,934 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $26.32 per share, with a total value 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 56.56% of the stock is owned by insiders.

Institutional Trading of AST SpaceMobile

Several hedge funds have recently modified their holdings of ASTS. Janus Henderson Group PLC grew its stake in shares of AST SpaceMobile by 209.9% during the first quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock valued at $21,606,000 after purchasing an additional 5,046,667 shares during the last quarter. Vanguard Group Inc. grew its stake 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 purchasing an additional 2,217,531 shares during the last quarter. Broad Run Investment Management LLC grew its stake in shares of AST SpaceMobile by 74.8% during the fourth quarter. Broad Run Investment Management LLC now owns 3,962,853 shares of the company’s stock valued at $23,896,000 after purchasing an additional 1,695,805 shares during the last quarter. Masters Capital Management LLC bought a new position in AST SpaceMobile in the first quarter valued at approximately $2,900,000. Finally, Oppenheimer & Co. Inc. bought a new position in AST SpaceMobile in the second quarter valued at approximately $9,270,000. 60.95% of the stock is owned by institutional investors.

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.