AST SpaceMobile (NASDAQ:ASTS) Shares Up 1.6%

AST SpaceMobile, Inc. (NASDAQ:ASTS) was up 1.6% on Monday . The stock traded as high as $26.70 and last traded at $25.73. Approximately 4,898,124 shares changed hands during trading, a decline of 54% from the average daily volume of 10,570,712 shares. The stock had previously closed at $25.32.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ASTS shares. 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 report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft boosted their target price on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Scotiabank boosted their price objective on AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Finally, UBS Group boosted their price objective on AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, August 15th.

AST SpaceMobile Stock Performance

The firm’s 50 day simple moving average is $25.48 and its 200 day simple moving average is $12.94. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of -27.06 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.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $2.00 million. Sell-side analysts forecast that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Adriana Cisneros bought 4,934 shares of the firm’s 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 completion of the transaction, the director now directly owns 774,772 shares of the company’s stock, valued at approximately $20,391,999.04. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 56.56% of the stock is owned by insiders.

Hedge Funds Weigh In On AST SpaceMobile

Several institutional investors have recently modified their holdings of ASTS. B. Riley Wealth Advisors Inc. acquired a new stake in shares of AST SpaceMobile in the 2nd quarter valued at approximately $278,000. Scientech Research LLC purchased a new position in AST SpaceMobile in the 2nd quarter valued at approximately $774,000. Sender Co & Partners Inc. purchased a new position in AST SpaceMobile during the 2nd quarter valued at about $177,000. The Manufacturers Life Insurance Company grew its position in shares of AST SpaceMobile by 31.9% in the second quarter. The Manufacturers Life Insurance Company now owns 51,209 shares of the company’s stock valued at $595,000 after purchasing an additional 12,391 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in shares of AST SpaceMobile by 150.4% in the second quarter. Marshall Wace LLP now owns 126,685 shares of the company’s stock valued at $1,471,000 after acquiring an additional 76,088 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

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.