AST SpaceMobile (NASDAQ:ASTS) Trading Up 5.3% – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price was up 5.3% on Monday . The company traded as high as $27.15 and last traded at $26.97. Approximately 3,196,333 shares changed hands during trading, a decline of 70% from the average daily volume of 10,595,599 shares. The stock had previously closed at $25.62.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ASTS shares. B. Riley increased their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. UBS Group upped their target price 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. Scotiabank raised their price target on 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 shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 4th.

AST SpaceMobile Stock Up 3.7 %

The stock has a market cap of $6.85 billion, a price-to-earnings ratio of -27.88 and a beta of 1.62. 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 firm’s 50 day moving average is $27.73 and its two-hundred day moving average is $16.15.

AST SpaceMobile (NASDAQ:ASTS) last posted 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 firm had revenue of $0.90 million during the quarter, compared to analyst estimates of $2.00 million. On average, sell-side analysts predict that AST SpaceMobile, Inc. will post -0.88 EPS for the current year.

Insider Activity

In related news, President Scott Wisniewski sold 2,700 shares of the 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 transaction, the president now directly owns 712,660 shares in the company, valued at approximately $16,476,699.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other AST SpaceMobile news, CTO Huiwen Yao sold 45,000 shares of AST SpaceMobile stock in a transaction dated 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 sale, the chief technology officer now owns 55,000 shares in the company, valued at $1,334,300. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Scott Wisniewski sold 2,700 shares of AST SpaceMobile stock in a transaction dated 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 directly owns 712,660 shares in the company, valued at $16,476,699.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,700 shares of company stock valued at $3,220,524 over the last quarter. Company insiders own 56.56% of the company’s stock.

Institutional Investors Weigh In On AST SpaceMobile

Several institutional investors have recently bought and sold shares of ASTS. Janus Henderson Group PLC boosted its position in AST SpaceMobile by 209.9% during the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock worth $21,606,000 after purchasing an additional 5,046,667 shares during the period. Vanguard Group Inc. grew its stake in shares of AST SpaceMobile by 49.9% in the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after buying an additional 2,217,531 shares in the last quarter. Masters Capital Management LLC purchased a new stake in shares of AST SpaceMobile during the 1st quarter valued at about $2,900,000. Oppenheimer & Co. Inc. acquired a new position in AST SpaceMobile during the 2nd quarter worth approximately $9,270,000. Finally, Renaissance Technologies LLC purchased a new position in AST SpaceMobile in the 2nd quarter worth approximately $4,757,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

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.