AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 0.4% – Time to Buy?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) shot up 0.4% during trading on Wednesday . The stock traded as high as $23.12 and last traded at $23.01. 1,348,758 shares were traded during mid-day trading, a decline of 87% from the average session volume of 10,532,978 shares. The stock had previously closed at $22.91.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of 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 lifted their price objective on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Scotiabank dropped their target price on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a report on Friday, November 15th. Finally, UBS Group boosted their price target on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th.

AST SpaceMobile Stock Performance

The business has a fifty day moving average price of $24.78 and a 200-day moving average price of $20.32. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $6.61 billion, a P/E ratio of -10.85 and a beta of 1.60.

Insider Buying and Selling at AST SpaceMobile

In related news, Director Adriana Cisneros purchased 4,934 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, President Scott Wisniewski sold 2,700 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $23.12, for a total value of $62,424.00. Following the completion of the sale, the president now owns 712,660 shares in the company, valued at approximately $16,476,699.20. The trade was a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 127,700 shares of company stock valued at $3,220,524 in the last ninety days. Corporate insiders own 41.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in AST SpaceMobile by 49.9% in the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after buying an additional 2,217,531 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of AST SpaceMobile by 71.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 55,335 shares of the company’s stock valued at $161,000 after buying an additional 22,987 shares during the period. SG Americas Securities LLC bought a new position in shares of AST SpaceMobile during the 2nd quarter valued at $334,000. Accordant Advisory Group Inc raised its holdings in shares of AST SpaceMobile by 2.0% during the 2nd quarter. Accordant Advisory Group Inc now owns 162,823 shares of the company’s stock valued at $1,890,000 after purchasing an additional 3,146 shares in the last quarter. Finally, Calton & Associates Inc. bought a new position in AST SpaceMobile in the 2nd quarter worth $128,000. Hedge funds and other 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.