AST SpaceMobile Sees Unusually High Options Volume (NASDAQ:ASTS)

AST SpaceMobile, Inc. (NASDAQ:ASTS) was the recipient of unusually large options trading on Friday. Traders bought 99,078 call options on the company. This is an increase of 28% compared to the typical volume of 77,319 call options.

Insider Transactions at AST SpaceMobile

In related news, Director Adriana Cisneros purchased 4,934 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $26.32 per share, with a total value of $129,862.88. Following the completion of the acquisition, the director now directly owns 774,772 shares of the company’s stock, valued at $20,391,999.04. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 56.56% of the company’s stock.

Hedge Funds Weigh In On AST SpaceMobile

A number of institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its holdings in AST SpaceMobile by 5.5% during the second quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock valued at $180,000 after acquiring an additional 814 shares during the period. Accordant Advisory Group Inc grew its position in shares of AST SpaceMobile by 2.0% during the second quarter. Accordant Advisory Group Inc now owns 162,823 shares of the company’s stock valued at $1,890,000 after purchasing an additional 3,146 shares in the last quarter. MBE Wealth Management LLC grew its position in shares of AST SpaceMobile by 34.1% during the second quarter. MBE Wealth Management LLC now owns 27,000 shares of the company’s stock valued at $313,000 after purchasing an additional 6,870 shares in the last quarter. Cantor Fitzgerald L. P. purchased a new position in shares of AST SpaceMobile during the fourth quarter valued at about $66,000. Finally, Calton & Associates Inc. purchased a new position in shares of AST SpaceMobile during the second quarter valued at about $128,000. 60.95% of the stock is owned by institutional investors.

AST SpaceMobile Stock Performance

ASTS stock opened at $25.32 on Friday. The stock has a market capitalization of $6.52 billion, a PE ratio of -25.84 and a beta of 1.63. AST SpaceMobile has a 12-month low of $1.97 and a 12-month high of $39.08. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.83. The stock’s 50 day simple moving average is $25.48 and its 200 day simple moving average is $12.87.

AST SpaceMobile (NASDAQ:ASTS) last released its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.05. The business had revenue of $0.90 million during the quarter, compared to the consensus estimate of $2.00 million. As a group, research analysts forecast that AST SpaceMobile will post -0.88 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ASTS has been the topic of a number of research reports. Scotiabank raised their price target on AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. UBS Group lifted their price objective on AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. B. Riley boosted their price target on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 4th.

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.