AST SpaceMobile, Inc. (NASDAQ:ASTS) Short Interest Update

AST SpaceMobile, Inc. (NASDAQ:ASTS) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totalling 41,560,000 shares, an increase of 7.5% from the September 15th total of 38,670,000 shares. Based on an average trading volume of 16,750,000 shares, the short-interest ratio is currently 2.5 days. Currently, 29.8% of the shares of the company are short sold.

Insider Activity

In other news, COO Shanti B. Gupta sold 80,000 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $25.83, for a total value of $2,066,400.00. Following the sale, the chief operating officer now directly owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of the firm’s stock in a transaction on 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 completion of 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Huiwen Yao sold 45,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief technology officer now owns 55,000 shares in the company, valued at approximately $1,334,300. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,700 shares of company stock valued at $3,220,524 in the last quarter. Company insiders own 56.56% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its holdings in AST SpaceMobile by 5.5% in the 2nd quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock valued at $180,000 after buying an additional 814 shares during the period. Accordant Advisory Group Inc increased its stake in AST SpaceMobile by 2.0% in the second quarter. Accordant Advisory Group Inc now owns 162,823 shares of the company’s stock valued at $1,890,000 after acquiring an additional 3,146 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in AST SpaceMobile during the third quarter valued at approximately $105,000. MBE Wealth Management LLC lifted its stake in AST SpaceMobile by 34.1% during the second quarter. MBE Wealth Management LLC now owns 27,000 shares of the company’s stock worth $313,000 after purchasing an additional 6,870 shares during the last quarter. Finally, Sanders Morris Harris LLC boosted its holdings in shares of AST SpaceMobile by 39.6% in the 3rd quarter. Sanders Morris Harris LLC now owns 25,387 shares of the company’s stock valued at $664,000 after purchasing an additional 7,200 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ASTS. Deutsche Bank Aktiengesellschaft raised their price objective on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Scotiabank lifted their price target on AST SpaceMobile from $28.00 to $45.90 and gave the stock a “sector outperform” rating in a report on Monday, August 26th. UBS Group upped 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. Finally, B. Riley increased their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th.

AST SpaceMobile Stock Down 3.5 %

Shares of ASTS opened at $24.25 on Wednesday. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.83. AST SpaceMobile has a 12 month low of $1.97 and a 12 month high of $39.08. The firm’s 50 day moving average is $27.12 and its 200-day moving average is $14.75. The stock has a market capitalization of $6.25 billion, a PE ratio of -24.74 and a beta of 1.62.

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

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.