AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 9.6% – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares were up 9.6% during mid-day trading on Thursday . The company traded as high as $30.55 and last traded at $28.79. Approximately 10,305,268 shares were traded during trading, a decline of 2% from the average daily volume of 10,545,464 shares. The stock had previously closed at $26.26.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ASTS shares. Scotiabank lifted 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. Deutsche Bank Aktiengesellschaft boosted their target price on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. B. Riley boosted their target price 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, UBS Group lifted their price target on AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, August 15th.

AST SpaceMobile Trading Down 1.9 %

The stock has a market cap of $6.63 billion, a PE ratio of -29.38 and a beta of 1.62. The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38. The stock has a fifty day moving average price of $27.96 and a 200 day moving average price of $15.73.

AST SpaceMobile (NASDAQ:ASTS) last issued its earnings results 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 for the quarter, compared to the consensus estimate 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, CTO Huiwen Yao sold 45,000 shares of the stock in a transaction that occurred 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 sale, the chief technology officer now owns 55,000 shares of the company’s stock, valued at approximately $1,334,300. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, President Scott Wisniewski sold 2,700 shares of the firm’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 transaction, the president now owns 712,660 shares of the company’s stock, valued at $16,476,699.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Huiwen Yao sold 45,000 shares of AST SpaceMobile 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 sale, the chief technology officer now directly owns 55,000 shares in the company, valued at $1,334,300. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,700 shares of company stock valued at $3,220,524. 56.56% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ASTS. BNP Paribas acquired a new stake in shares of AST SpaceMobile in the 1st quarter valued at about $43,000. Principal Financial Group Inc. purchased a new stake in AST SpaceMobile in the 1st quarter worth about $45,000. Black Maple Capital Management LP acquired a new position in AST SpaceMobile in the 1st quarter worth about $87,000. Future Financial Wealth Managment LLC acquired a new position in AST SpaceMobile in the 3rd quarter worth about $105,000. Finally, Calton & Associates Inc. acquired a new position in shares of AST SpaceMobile during the 2nd quarter valued at about $128,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.