AST SpaceMobile (NASDAQ:ASTS) Trading 0.8% Higher – Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shot up 0.8% during trading on Tuesday . The company traded as high as $24.70 and last traded at $24.49. 1,477,418 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 10,434,182 shares. The stock had previously closed at $24.30.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Scotiabank dropped their price objective on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft increased 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. B. Riley increased their target price on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, UBS Group increased their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th.

AST SpaceMobile Stock Performance

The business’s 50-day moving average price is $24.65 and its 200-day moving average price is $21.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The stock has a market cap of $7.23 billion, a P/E ratio of -11.55 and a beta of 1.60.

Insiders Place Their Bets

In related news, CTO Huiwen Yao sold 45,000 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the transaction, the chief technology officer now directly owns 55,000 shares in the company, valued at approximately $1,334,300. This represents a 45.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Scott Wisniewski sold 2,700 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $23.12, for a total transaction of $62,424.00. Following the completion of the transaction, the president now owns 712,660 shares in the company, valued at $16,476,699.20. This represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 127,700 shares of company stock worth $3,220,524 in the last 90 days. 41.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Amalgamated Bank grew its position in AST SpaceMobile by 17.4% during the third quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock valued at $120,000 after buying an additional 679 shares during the period. Victory Capital Management Inc. grew its position in shares of AST SpaceMobile by 5.5% in the second quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock valued at $180,000 after purchasing an additional 814 shares during the period. Fairfield Financial Advisors LTD purchased a new position in shares of AST SpaceMobile in the third quarter worth about $26,000. Hollencrest Capital Management purchased a new position in shares of AST SpaceMobile in the third quarter worth about $26,000. Finally, Calton & Associates Inc. lifted its stake in shares of AST SpaceMobile by 14.5% in the third quarter. Calton & Associates Inc. now owns 12,600 shares of the company’s stock worth $329,000 after buying an additional 1,600 shares in the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

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.