AST SpaceMobile (NASDAQ:ASTS) Shares Gap Up – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares gapped up prior to trading on Wednesday . The stock had previously closed at $24.26, but opened at $26.00. AST SpaceMobile shares last traded at $26.44, with a volume of 2,730,112 shares traded.

Wall Street Analyst Weigh In

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

AST SpaceMobile Stock Performance

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 has a fifty day moving average of $25.80 and a 200-day moving average of $18.01.

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

Insider Transactions at AST SpaceMobile

In other AST SpaceMobile news, Director Adriana Cisneros purchased 4,934 shares of the business’s stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the acquisition, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Adriana Cisneros acquired 4,934 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $26.32 per share, with a total value of $129,862.88. Following the transaction, the director now directly owns 774,772 shares in the company, valued at approximately $20,391,999.04. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Scott Wisniewski sold 2,700 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $23.12, for a total transaction of $62,424.00. Following the completion of the transaction, the president now directly 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 disclosure for this sale can be found here. Insiders have sold 127,700 shares of company stock valued at $3,220,524 in the last quarter. 41.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AST SpaceMobile

Several institutional investors and hedge funds have recently bought and sold shares of ASTS. Fairfield Financial Advisors LTD purchased a new stake in AST SpaceMobile in the 3rd quarter worth approximately $26,000. Hollencrest Capital Management acquired a new position in AST SpaceMobile in the 3rd quarter valued at $26,000. Rakuten Securities Inc. acquired a new position in AST SpaceMobile in the 3rd quarter valued at $68,000. KBC Group NV acquired a new position in AST SpaceMobile in the 3rd quarter valued at $104,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in AST SpaceMobile in the 3rd quarter worth $105,000. Institutional investors and hedge funds 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.