AST SpaceMobile (NASDAQ:ASTS) Trading Up 0.9% – Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price was up 0.9% on Tuesday . The stock traded as high as $23.67 and last traded at $23.45. Approximately 933,092 shares were traded during trading, a decline of 91% from the average daily volume of 10,364,271 shares. The stock had previously closed at $23.25.

Analysts Set New Price Targets

ASTS has been the subject of a number of recent analyst reports. UBS Group raised their price target on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft raised their price target on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Scotiabank reduced their price objective on shares of AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a report on Friday, November 15th. Finally, B. Riley raised their target price on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 29th.

AST SpaceMobile Price Performance

The stock’s fifty day moving average is $24.50 and its 200-day moving average is $22.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The stock has a market capitalization of $6.81 billion, a P/E ratio of -11.08 and a beta of 1.60.

Insider Buying and Selling

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $23.12, for a total transaction of $62,424.00. Following the sale, the president now directly owns 712,660 shares of the company’s stock, valued at approximately $16,476,699.20. This represents a 0.38 % 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 link. Also, CTO Huiwen Yao sold 45,000 shares of the company’s stock in a transaction dated Tuesday, October 8th. The stock was 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 in the company, valued at approximately $1,334,300. This trade represents a 45.00 % decrease in their position. The disclosure for this sale can be found here. Over 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.

Institutional Inflows and Outflows

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

About AST SpaceMobile

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.