AST SpaceMobile (NASDAQ:ASTS) Shares Up 0.8% – Still a Buy?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) traded up 0.8% during trading on Friday . The company traded as high as $21.88 and last traded at $21.63. 1,903,760 shares were traded during mid-day trading, a decline of 82% from the average session volume of 10,528,790 shares. The stock had previously closed at $21.45.

Wall Street Analyst Weigh In

ASTS has been the topic of a number of research analyst reports. B. Riley raised their price target on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. 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 report on Wednesday, September 4th. 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. Finally, Scotiabank boosted their price objective on AST SpaceMobile from $28.00 to $45.90 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th.

AST SpaceMobile Stock Performance

The company has a market capitalization of $5.95 billion, a P/E ratio of -17.30 and a beta of 1.64. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38. The company has a fifty day moving average price of $26.13 and a two-hundred day moving average price of $17.35.

AST SpaceMobile (NASDAQ:ASTS) last announced its earnings results on Wednesday, August 14th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.05. The company had revenue of $0.90 million during the quarter, compared to the consensus estimate of $2.00 million. Equities analysts forecast that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current fiscal year.

Insider Activity at AST SpaceMobile

In related news, Director Adriana Cisneros bought 4,934 shares of AST SpaceMobile stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the completion of the acquisition, the director now directly 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 purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, President Scott Wisniewski sold 2,700 shares of the firm’s stock in a transaction that occurred on 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 sale, 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Adriana Cisneros acquired 4,934 shares of the stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $26.32 per share, with a total value of $129,862.88. Following the purchase, the director now directly owns 774,772 shares in the company, valued at $20,391,999.04. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 127,700 shares of company stock worth $3,220,524 over the last ninety days. Insiders own 41.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fairfield Financial Advisors LTD acquired a new position in shares of AST SpaceMobile during the third quarter valued at about $26,000. Hollencrest Capital Management bought a new stake in AST SpaceMobile in the 3rd quarter valued at about $26,000. Rakuten Securities Inc. acquired a new position in AST SpaceMobile during the 3rd quarter worth approximately $68,000. Black Maple Capital Management LP bought a new position in AST SpaceMobile in the first quarter worth approximately $87,000. Finally, KBC Group NV acquired a new stake in AST SpaceMobile in the third quarter valued at approximately $104,000. 60.95% of the stock is owned by institutional investors.

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.