AST SpaceMobile (NASDAQ:ASTS) Shares Down 0%

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares fell 0% during mid-day trading on Tuesday . The stock traded as low as $28.74 and last traded at $29.83. 4,549,340 shares traded hands during mid-day trading, a decline of 56% from the average session volume of 10,436,067 shares. The stock had previously closed at $29.84.

Wall Street Analyst Weigh In

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

AST SpaceMobile Stock Performance

The company has a 50-day moving average price of $23.03 and a two-hundred day moving average price of $11.46. 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 $7.18 billion, a P/E ratio of -28.51 and a beta of 1.63.

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 analysts’ consensus estimates of ($0.19) by $0.05. The firm had revenue of $0.90 million during the quarter, compared to the consensus estimate of $2.00 million. Equities analysts expect that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current year.

Insider Activity at AST SpaceMobile

In related news, Director Adriana Cisneros purchased 4,934 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were acquired at an average cost of $26.32 per share, with a total value of $129,862.88. Following the purchase, 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 filing with the SEC, which is accessible through the SEC website. 56.56% of the stock is owned by insiders.

Hedge Funds Weigh In On AST SpaceMobile

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. bought a new stake in AST SpaceMobile during the fourth quarter valued at approximately $65,000. PNC Financial Services Group Inc. lifted its position in AST SpaceMobile by 319.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 163,296 shares of the company’s stock valued at $985,000 after purchasing an additional 124,322 shares in the last quarter. IPG Investment Advisors LLC bought a new stake in AST SpaceMobile during the fourth quarter valued at about $96,000. Rathbones Group PLC purchased a new position in AST SpaceMobile in the 4th quarter worth approximately $76,000. Finally, Cantor Fitzgerald L. P. bought a new position in AST SpaceMobile in the 4th quarter worth approximately $66,000. Institutional investors own 60.95% of the company’s stock.

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.