AST SpaceMobile (NASDAQ:ASTS) Trading Up 6.1% – Still a Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS) traded up 6.1% on Friday . The company traded as high as $24.65 and last traded at $24.63. 3,067,578 shares changed hands during trading, a decline of 71% from the average session volume of 10,581,792 shares. The stock had previously closed at $23.22.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Scotiabank boosted 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. B. Riley boosted 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. Finally, Deutsche Bank Aktiengesellschaft boosted 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.

AST SpaceMobile Price Performance

The stock has a 50 day moving average of $26.16 and a two-hundred day moving average of $13.33. The stock has a market cap of $6.75 billion, a PE ratio of -25.13 and a beta of 1.62. 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) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. The company had revenue of $0.90 million during the quarter, compared to analysts’ expectations of $2.00 million. Equities analysts anticipate that AST SpaceMobile, Inc. will post -0.88 EPS for the current year.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, Director Adriana Cisneros bought 4,934 shares of the stock in a transaction on Friday, September 6th. The shares were bought at an average price of $26.32 per share, with a total value of $129,862.88. Following the purchase, the director now directly owns 774,772 shares in the company, valued at $20,391,999.04. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Adriana Cisneros purchased 4,934 shares of AST SpaceMobile stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the acquisition, the director now directly owns 774,772 shares in the company, valued at $20,391,999.04. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Shanti B. Gupta sold 80,000 shares of AST SpaceMobile 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 sale, the chief operating officer now owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 56.56% of the company’s stock.

Institutional Investors Weigh In On AST SpaceMobile

Several institutional investors have recently made changes to their positions in ASTS. BNP Paribas acquired a new stake in shares of AST SpaceMobile during the 1st quarter valued at about $43,000. Principal Financial Group Inc. acquired a new stake in AST SpaceMobile in the 1st quarter worth approximately $45,000. Cantor Fitzgerald L. P. acquired a new stake in AST SpaceMobile in the 4th quarter worth approximately $66,000. Black Maple Capital Management LP acquired a new stake in AST SpaceMobile in the 1st quarter worth approximately $87,000. Finally, Calton & Associates Inc. acquired a new stake in AST SpaceMobile in the 2nd quarter worth approximately $128,000. 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.