AST SpaceMobile (NASDAQ:ASTS) Trading 0.8% Higher – Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price traded up 0.8% on Tuesday . The stock traded as high as $24.70 and last traded at $24.49. 1,477,418 shares changed hands during trading, a decline of 86% from the average session volume of 10,434,182 shares. The stock had previously closed at $24.30.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. B. Riley lifted their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Scotiabank decreased their price objective on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft lifted their price objective on AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, UBS Group lifted their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th.

AST SpaceMobile Trading Up 2.7 %

The company has a 50 day moving average of $24.65 and a 200 day moving average of $21.48. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of -11.55 and a beta of 1.60.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, CTO Huiwen Yao sold 45,000 shares of AST SpaceMobile stock in a transaction on Tuesday, October 8th. The stock was 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 owns 55,000 shares in the company, valued at approximately $1,334,300. The trade was a 45.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Scott Wisniewski sold 2,700 shares of AST SpaceMobile stock in a transaction on Monday, September 30th. The shares were sold at an average price of $23.12, for a total value of $62,424.00. Following the completion of the transaction, the president now owns 712,660 shares of the company’s stock, valued at approximately $16,476,699.20. The trade was a 0.38 % 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 valued at $3,220,524 in the last 90 days. 41.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AST SpaceMobile

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in AST SpaceMobile by 9.4% in the third quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company’s stock valued at $85,450,000 after acquiring an additional 281,749 shares during the period. State Street Corp boosted its position in AST SpaceMobile by 14.8% during the third quarter. State Street Corp now owns 3,091,577 shares of the company’s stock valued at $80,845,000 after purchasing an additional 399,713 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in AST SpaceMobile by 228.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock valued at $29,594,000 after purchasing an additional 787,566 shares during the last quarter. Oppenheimer & Co. Inc. raised its stake in AST SpaceMobile by 6.0% in the third quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company’s stock valued at $22,125,000 after buying an additional 47,600 shares during the period. Finally, Privium Fund Management B.V. bought a new position in shares of AST SpaceMobile during the third quarter worth approximately $21,476,000. 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.