AST SpaceMobile (NASDAQ:ASTS) Shares Up 6.2% – Time to Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price traded up 6.2% during trading on Wednesday . The stock traded as high as $26.06 and last traded at $25.75. 2,613,859 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 10,513,556 shares. The stock had previously closed at $24.25.

Analyst Upgrades and Downgrades

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

AST SpaceMobile Trading Up 8.6 %

The firm has a 50 day moving average of $27.12 and a 200-day moving average of $14.75. The firm has a market capitalization of $6.78 billion, a P/E ratio of -26.95 and a beta of 1.62. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83.

AST SpaceMobile (NASDAQ:ASTS) last posted its earnings results on Wednesday, August 14th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.05. The business had revenue of $0.90 million for the quarter, compared to analyst estimates of $2.00 million. On average, equities research analysts predict that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Adriana Cisneros bought 4,934 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $26.32 per share, with a total value of $129,862.88. Following the transaction, the director now owns 774,772 shares of the company’s stock, valued at approximately $20,391,999.04. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the business’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 sale, the president now owns 712,660 shares of the company’s stock, valued at approximately $16,476,699.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Adriana Cisneros purchased 4,934 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the completion of the acquisition, the director now owns 774,772 shares in the company, valued at $20,391,999.04. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 127,700 shares of company stock valued at $3,220,524 over the last 90 days. Insiders own 56.56% of the company’s stock.

Hedge Funds Weigh In On AST SpaceMobile

Several institutional investors have recently added to or reduced their stakes in ASTS. Future Financial Wealth Managment LLC bought a new stake in AST SpaceMobile in the third quarter worth $105,000. Brookstone Capital Management purchased a new stake in shares of AST SpaceMobile in the third quarter valued at approximately $255,000. Calton & Associates Inc. purchased a new position in shares of AST SpaceMobile in the second quarter valued at approximately $128,000. Miracle Mile Advisors LLC purchased a new position in AST SpaceMobile in the 3rd quarter worth approximately $328,000. Finally, BNP Paribas acquired a new position in shares of AST SpaceMobile during the 1st quarter valued at about $43,000. 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.