AST SpaceMobile (NASDAQ:ASTS) Trading Down 0%

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) traded down 0% during mid-day trading on Tuesday . The company traded as low as $28.74 and last traded at $29.83. 4,549,340 shares were traded during mid-day trading, a decline of 56% from the average session volume of 10,436,067 shares. The stock had previously closed at $29.84.

Analysts Set New Price Targets

A number of research firms have recently commented on ASTS. Deutsche Bank Aktiengesellschaft raised their price objective on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. B. Riley increased their target price 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. Scotiabank boosted their price target on shares of AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. Finally, UBS Group increased their price target on AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th.

AST SpaceMobile Stock Performance

The firm has a market cap of $7.29 billion, a P/E ratio of -28.88 and a beta of 1.63. The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38. The stock’s 50-day moving average is $23.34 and its 200 day moving average is $11.64.

AST SpaceMobile (NASDAQ:ASTS) last announced its earnings results on Wednesday, August 14th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.05. The business had revenue of $0.90 million for the quarter, compared to analyst estimates of $2.00 million. On average, research analysts predict that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Adriana Cisneros acquired 4,934 shares of AST SpaceMobile stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $26.32 per share, with a total value of $129,862.88. Following the completion of the transaction, the director now directly owns 774,772 shares in the company, valued at approximately $20,391,999.04. The purchase was disclosed in a document filed with the SEC, which is available through this link. 56.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC raised its position in 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 in the last quarter. Vanguard Group Inc. boosted 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 worth $19,325,000 after buying an additional 2,217,531 shares in the last quarter. Broad Run Investment Management LLC increased its stake in shares of AST SpaceMobile by 74.8% in the 4th quarter. Broad Run Investment Management LLC now owns 3,962,853 shares of the company’s stock valued at $23,896,000 after acquiring an additional 1,695,805 shares in the last quarter. Masters Capital Management LLC bought a new position in shares of AST SpaceMobile during the 1st quarter worth about $2,900,000. Finally, Oppenheimer & Co. Inc. bought a new position in AST SpaceMobile in the second quarter worth approximately $9,270,000. 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.