UBS Group Raises AST SpaceMobile (NASDAQ:ASTS) Price Target to $31.00

AST SpaceMobile (NASDAQ:ASTS) had its price objective hoisted by research analysts at UBS Group from $30.00 to $31.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s target price would indicate a potential upside of 38.76% from the company’s previous close.

Several other analysts have also weighed in on the company. B. Riley boosted their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Scotiabank boosted their price target 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, Deutsche Bank Aktiengesellschaft upped their price target on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th.

AST SpaceMobile Stock Down 16.6 %

Shares of NASDAQ:ASTS traded down $4.46 during midday trading on Friday, reaching $22.34. The company had a trading volume of 5,395,584 shares, compared to its average volume of 10,624,786. The stock has a market capitalization of $6.02 billion, a P/E ratio of -17.86 and a beta of 1.64. The stock’s fifty day moving average price is $25.67 and its 200-day moving average price is $18.14. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38. AST SpaceMobile has a one year low of $1.97 and a one year high of $39.08.

AST SpaceMobile (NASDAQ:ASTS) last released its earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.05. The company had revenue of $0.90 million during the quarter, compared to the consensus estimate of $2.00 million. Equities research analysts expect that AST SpaceMobile will post -0.72 earnings per share for the current fiscal year.

Insider Activity

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 value of $62,424.00. Following the completion of the transaction, the president now owns 712,660 shares in the company, valued at approximately $16,476,699.20. This represents a 0.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Adriana Cisneros purchased 4,934 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the acquisition, the director now owns 774,772 shares of the company’s stock, valued at approximately $20,391,999.04. The trade was a 0.64 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 127,700 shares of company stock valued at $3,220,524. 41.80% of the stock is currently owned by insiders.

Institutional Trading of AST SpaceMobile

Several large investors have recently added to or reduced their stakes in ASTS. Vanguard Group Inc. boosted its position in 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 acquiring an additional 2,217,531 shares during the period. American International Group Inc. grew its position in AST SpaceMobile by 41.5% in the 1st quarter. American International Group Inc. now owns 56,527 shares of the company’s stock valued at $164,000 after buying an additional 16,568 shares in the last quarter. Natixis increased its stake in AST SpaceMobile by 62.2% during the 1st quarter. Natixis now owns 55,863 shares of the company’s stock valued at $162,000 after buying an additional 21,430 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of AST SpaceMobile by 71.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 55,335 shares of the company’s stock worth $161,000 after buying an additional 22,987 shares in the last quarter. Finally, Masters Capital Management LLC acquired a new stake in shares of AST SpaceMobile in the 1st quarter worth approximately $2,900,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.