AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 1% – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price rose 1% during trading on Wednesday . The stock traded as high as $23.79 and last traded at $23.49. Approximately 2,293,361 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 10,370,488 shares. The stock had previously closed at $23.25.

Analyst Upgrades and Downgrades

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

AST SpaceMobile Price Performance

The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The company has a 50 day simple moving average of $24.43 and a 200 day simple moving average of $22.13. The stock has a market cap of $7.15 billion, a P/E ratio of -11.64 and a beta of 1.60.

Insider Buying and Selling

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $23.12, for a total transaction of $62,424.00. Following the transaction, the president now owns 712,660 shares of the company’s stock, valued at $16,476,699.20. The trade was a 0.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Huiwen Yao sold 45,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,334,300. The trade was a 45.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,700 shares of company stock worth $3,220,524. 41.80% of the stock is owned by insiders.

Institutional Investors Weigh In On AST SpaceMobile

A number of institutional investors and hedge funds have recently modified their holdings of ASTS. Fairfield Financial Advisors LTD acquired a new position in AST SpaceMobile during the third quarter worth approximately $26,000. Hollencrest Capital Management acquired a new stake in AST SpaceMobile during the 3rd quarter worth approximately $26,000. Rakuten Securities Inc. bought a new stake in AST SpaceMobile in the 3rd quarter valued at $68,000. Sunbelt Securities Inc. grew its position in shares of AST SpaceMobile by 3,380.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock worth $91,000 after purchasing an additional 3,380 shares in the last quarter. Finally, KBC Group NV acquired a new stake in AST SpaceMobile during the third quarter worth approximately $104,000. 60.95% of the stock is owned by institutional investors.

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.