AST SpaceMobile (NASDAQ:ASTS) Given New $44.70 Price Target at Scotiabank

AST SpaceMobile (NASDAQ:ASTS) had its price objective cut by Scotiabank from $45.90 to $44.70 in a report published on Friday,Benzinga reports. They currently have a sector outperform rating on the stock.

ASTS has been the topic of several other reports. B. Riley raised their price target on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft increased 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. Finally, UBS Group boosted their target price on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday.

AST SpaceMobile Price Performance

Shares of ASTS stock opened at $25.80 on Friday. The firm’s 50 day moving average price is $25.62 and its two-hundred day moving average price is $18.69. The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38. AST SpaceMobile has a 52-week low of $1.97 and a 52-week high of $39.08. The stock has a market cap of $6.95 billion, a PE ratio of -12.17 and a beta of 1.64.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the sale, the chief operating officer now directly owns 393,232 shares in the company, valued at approximately $10,157,182.56. This trade represents a 16.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Huiwen Yao sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the completion of the transaction, the chief technology officer now owns 55,000 shares of the company’s stock, valued at $1,334,300. This trade represents a 45.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 127,700 shares of company stock worth $3,220,524 in the last quarter. Corporate insiders own 41.80% of the company’s stock.

Institutional Trading of AST SpaceMobile

Institutional investors have recently modified their holdings of the company. Janus Henderson Group PLC raised its position in AST SpaceMobile by 209.9% in the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock valued at $21,606,000 after buying an additional 5,046,667 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of AST SpaceMobile by 49.9% during the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock worth $19,325,000 after acquiring an additional 2,217,531 shares in the last quarter. Masters Capital Management LLC acquired a new stake in shares of AST SpaceMobile in the first quarter valued at approximately $2,900,000. Privium Fund Management B.V. bought a new stake in shares of AST SpaceMobile in the third quarter worth $21,476,000. Finally, Oppenheimer & Co. Inc. acquired a new position in AST SpaceMobile during the second quarter worth $9,270,000. 60.95% of the stock is currently 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.