AST SpaceMobile (NASDAQ:ASTS) Shares Up 0.2% – Here’s What Happened

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) traded up 0.2% during trading on Tuesday . The company traded as high as $24.36 and last traded at $23.98. 1,443,373 shares changed hands during trading, a decline of 86% from the average session volume of 10,493,629 shares. The stock had previously closed at $23.94.

Analysts Set New Price Targets

ASTS has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft upped their price objective on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. B. Riley upped their price target on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Scotiabank lifted their price target on shares of AST SpaceMobile from $28.00 to $45.90 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Finally, UBS Group increased 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 stock has a 50 day moving average of $26.29 and a 200 day moving average of $17.32. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of -18.02 and a beta of 1.64. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. The firm had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.00 million. As a group, analysts predict that AST SpaceMobile, Inc. will post -0.88 EPS for the current year.

Insider Buying and Selling at AST SpaceMobile

In other news, COO Shanti B. Gupta sold 80,000 shares of the firm’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $25.83, for a total value of $2,066,400.00. Following the completion of the sale, the chief operating officer now directly owns 393,232 shares in the company, valued at $10,157,182.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CTO Huiwen Yao sold 45,000 shares of AST SpaceMobile stock in a transaction 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 owns 55,000 shares of the company’s stock, valued at approximately $1,334,300. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Shanti B. Gupta sold 80,000 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the sale, the chief operating officer now owns 393,232 shares of the company’s stock, valued at $10,157,182.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 127,700 shares of company stock valued at $3,220,524. Corporate insiders own 41.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in AST SpaceMobile by 49.9% during the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after purchasing an additional 2,217,531 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in shares of AST SpaceMobile in the second quarter valued at about $278,000. Americana Partners LLC bought a new stake in AST SpaceMobile in the 3rd quarter worth about $673,000. Marshall Wace LLP grew its position in AST SpaceMobile by 150.4% in the 2nd quarter. Marshall Wace LLP now owns 126,685 shares of the company’s stock worth $1,471,000 after purchasing an additional 76,088 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in AST SpaceMobile by 2,418.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 31,027 shares of the company’s stock valued at $811,000 after buying an additional 29,795 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.