UBS Group Increases AST SpaceMobile (NASDAQ:ASTS) Price Target to $31.00

AST SpaceMobile (NASDAQ:ASTS) had its price objective increased by UBS Group from $30.00 to $31.00 in a research report sent to investors on Friday,Benzinga reports. UBS Group currently has a buy rating on the stock.

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

AST SpaceMobile Trading Down 9.6 %

Shares of ASTS opened at $24.23 on Friday. AST SpaceMobile has a twelve month low of $1.97 and a twelve month high of $39.08. The stock has a market cap of $6.53 billion, a PE ratio of -11.43 and a beta of 1.64. The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.83. The business’s 50-day moving average price is $25.63 and its 200-day moving average price is $18.52.

Insider Activity

In other AST SpaceMobile news, President Scott Wisniewski sold 2,700 shares of the 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 transaction, the president now directly owns 712,660 shares in the company, valued at $16,476,699.20. This trade represents a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Shanti B. Gupta sold 80,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $25.83, for a total transaction of $2,066,400.00. Following the completion of the sale, the chief operating officer now owns 393,232 shares of the company’s stock, valued at approximately $10,157,182.56. The trade was a 16.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 127,700 shares of company stock worth $3,220,524. 41.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AST SpaceMobile

Several institutional investors and hedge funds have recently made changes to their positions in ASTS. Fairfield Financial Advisors LTD purchased a new stake in AST SpaceMobile during the third quarter valued at about $26,000. Hollencrest Capital Management bought a new stake in shares of AST SpaceMobile in the 3rd quarter valued at about $26,000. Rakuten Securities Inc. purchased a new stake in AST SpaceMobile during the 3rd quarter valued at about $68,000. KBC Group NV bought a new position in AST SpaceMobile during the 3rd quarter worth approximately $104,000. Finally, Future Financial Wealth Managment LLC purchased a new position in AST SpaceMobile in the 3rd quarter worth approximately $105,000. Institutional investors own 60.95% of the company’s stock.

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.