AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 3.6% – Time to Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price traded up 3.6% on Friday . The company traded as high as $24.70 and last traded at $24.66. 1,448,828 shares traded hands during trading, a decline of 86% from the average session volume of 10,533,341 shares. The stock had previously closed at $23.81.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price target 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. UBS Group upped their price target on shares of AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. B. Riley upped their price objective on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, Scotiabank upped their price objective 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.

AST SpaceMobile Trading Up 0.2 %

The firm has a market cap of $6.42 billion, a price-to-earnings ratio of -19.08 and a beta of 1.64. The business’s 50 day moving average price is $26.73 and its 200-day moving average price is $16.87. The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38.

AST SpaceMobile (NASDAQ:ASTS) last issued its earnings results on Wednesday, August 14th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts expect that AST SpaceMobile, Inc. will post -0.88 EPS for the current year.

Insider Buying and Selling

In related news, COO Shanti B. Gupta sold 80,000 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the sale, the chief operating officer now owns 393,232 shares in the company, valued at $10,157,182.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CTO Huiwen Yao sold 45,000 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total value of $1,091,700.00. Following the completion of the transaction, the chief technology officer now directly owns 55,000 shares in the company, valued at $1,334,300. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Shanti B. Gupta sold 80,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 393,232 shares of the company’s stock, valued at $10,157,182.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 127,700 shares of company stock worth $3,220,524 over the last quarter. 41.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On AST SpaceMobile

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fairfield Financial Advisors LTD purchased a new stake in AST SpaceMobile in the 3rd quarter worth approximately $26,000. Hollencrest Capital Management purchased a new stake in AST SpaceMobile in the 3rd quarter worth approximately $26,000. BNP Paribas purchased a new stake in AST SpaceMobile in the 1st quarter worth approximately $43,000. Principal Financial Group Inc. purchased a new stake in AST SpaceMobile in the 1st quarter worth approximately $45,000. Finally, Black Maple Capital Management LP bought a new position in shares of AST SpaceMobile during the 1st quarter valued at $87,000. Institutional investors and hedge funds 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.