AST SpaceMobile (NASDAQ:ASTS) Trading Up 9.6% – What’s Next?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) rose 9.6% on Thursday . The stock traded as high as $30.55 and last traded at $28.79. Approximately 10,305,268 shares were traded during trading, a decline of 2% from the average daily volume of 10,545,464 shares. The stock had previously closed at $26.26.

Analyst Upgrades and Downgrades

ASTS has been the topic of several analyst reports. Scotiabank upped their target price on AST SpaceMobile from $28.00 to $45.90 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. Deutsche Bank Aktiengesellschaft upped 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. B. Riley boosted their price target on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, UBS Group upped their target price on AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, August 15th.

AST SpaceMobile Trading Down 1.9 %

The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $6.63 billion, a PE ratio of -29.38 and a beta of 1.62. The firm has a 50 day moving average price of $27.96 and a 200 day moving average price of $15.73.

AST SpaceMobile (NASDAQ:ASTS) last released its 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 analysts’ expectations of $2.00 million. Equities analysts expect that AST SpaceMobile, Inc. will post -0.88 EPS for the current fiscal year.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile 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 transaction of $2,066,400.00. Following the sale, the chief operating officer now owns 393,232 shares in the company, valued at $10,157,182.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, COO Shanti B. Gupta sold 80,000 shares of AST SpaceMobile 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 transaction, the chief operating officer now owns 393,232 shares in the company, valued at approximately $10,157,182.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Adriana Cisneros purchased 4,934 shares of AST SpaceMobile stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $26.32 per share, for a total transaction of $129,862.88. Following the acquisition, the director now owns 774,772 shares in the company, valued at $20,391,999.04. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 127,700 shares of company stock valued at $3,220,524. Company insiders own 56.56% of the company’s stock.

Institutional Trading of AST SpaceMobile

Several institutional investors have recently added to or reduced their stakes in ASTS. Vanguard Group Inc. lifted 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 valued at $19,325,000 after buying an additional 2,217,531 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of AST SpaceMobile during the second quarter valued at about $278,000. Marshall Wace LLP grew its position in shares of AST SpaceMobile by 150.4% during the second quarter. Marshall Wace LLP now owns 126,685 shares of the company’s stock valued at $1,471,000 after purchasing an additional 76,088 shares in the last quarter. Key Colony Management LLC purchased a new position in AST SpaceMobile in the third quarter worth about $3,556,000. Finally, American International Group Inc. grew its position in AST SpaceMobile by 41.5% in the first quarter. American International Group Inc. now owns 56,527 shares of the company’s stock worth $164,000 after acquiring an additional 16,568 shares in the last quarter. 60.95% of the stock is currently owned by hedge funds and other 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.