AST SpaceMobile (NASDAQ:ASTS) Shares Up 3.4% on Analyst Upgrade

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price rose 3.4% during trading on Monday after UBS Group raised their price target on the stock from $30.00 to $31.00. UBS Group currently has a buy rating on the stock. AST SpaceMobile traded as high as $25.17 and last traded at $25.05. Approximately 2,696,146 shares changed hands during trading, a decline of 75% from the average daily volume of 10,645,036 shares. The stock had previously closed at $24.23.

Other analysts have also issued research reports about the stock. B. Riley lifted their price objective 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. Scotiabank raised their price target 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. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, Director Adriana Cisneros bought 4,934 shares of AST SpaceMobile stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $26.32 per share, for a total transaction of $129,862.88. Following the completion of the purchase, the director now directly owns 774,772 shares of the company’s stock, valued at approximately $20,391,999.04. This trade represents a 0.64 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Scott Wisniewski sold 2,700 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $23.12, for a total transaction of $62,424.00. Following the completion of the transaction, the president now directly owns 712,660 shares of the company’s stock, valued at approximately $16,476,699.20. This trade represents a 0.38 % decrease in their ownership of the stock. 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 three months. 41.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AST SpaceMobile

Large investors have recently modified their holdings of the company. Amalgamated Bank boosted its holdings in AST SpaceMobile by 17.4% in the 3rd quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock valued at $120,000 after purchasing an additional 679 shares during the period. Victory Capital Management Inc. boosted its stake in AST SpaceMobile by 5.5% during the second quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock valued at $180,000 after buying an additional 814 shares during the period. Fairfield Financial Advisors LTD purchased a new position in AST SpaceMobile during the third quarter worth about $26,000. Hollencrest Capital Management bought a new position in AST SpaceMobile in the 3rd quarter worth about $26,000. Finally, Calton & Associates Inc. increased its stake in AST SpaceMobile by 14.5% in the 3rd quarter. Calton & Associates Inc. now owns 12,600 shares of the company’s stock worth $329,000 after acquiring an additional 1,600 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors.

AST SpaceMobile Trading Up 1.3 %

The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The stock has a market cap of $7.04 billion, a P/E ratio of -12.33 and a beta of 1.64. The stock has a 50-day moving average price of $25.63 and a 200-day moving average price of $18.85.

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.