AST SpaceMobile (NASDAQ:ASTS) Shares Up 2.3% – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price was up 2.3% on Thursday . The company traded as high as $86.72 and last traded at $86.40. Approximately 8,537,045 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 16,568,006 shares. The stock had previously closed at $84.43.

Analyst Ratings Changes

Several equities analysts recently weighed in on ASTS shares. B. Riley Financial cut their price objective on AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of AST SpaceMobile in a research report on Tuesday, January 20th. Zacks Research lowered shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research report on Friday, January 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of AST SpaceMobile in a report on Monday, December 29th. Finally, Scotiabank downgraded shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 price objective on the stock. in a report on Wednesday, January 7th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $52.94.

AST SpaceMobile Stock Performance

The company has a current ratio of 9.56, a quick ratio of 9.48 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $31.71 billion, a price-to-earnings ratio of -69.68 and a beta of 2.70. The stock has a fifty day moving average price of $92.04 and a 200-day moving average price of $70.88.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, COO Shanti B. Gupta sold 10,000 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $77.34, for a total transaction of $773,400.00. Following the sale, the chief operating officer directly owned 382,375 shares of the company’s stock, valued at approximately $29,572,882.50. This represents a 2.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Maya Bernal sold 6,000 shares of AST SpaceMobile stock in a transaction on Friday, December 5th. The shares were sold at an average price of $73.76, for a total value of $442,560.00. Following the completion of the transaction, the chief accounting officer owned 122,486 shares of the company’s stock, valued at approximately $9,034,567.36. The trade was a 4.67% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have acquired 2,015 shares of company stock worth $149,144 and have sold 2,354,621 shares worth $164,348,075. Company insiders own 30.90% of the company’s stock.

Hedge Funds Weigh In On AST SpaceMobile

A number of large investors have recently modified their holdings of ASTS. Oppenheimer & Co. Inc. raised its holdings in AST SpaceMobile by 48.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 532,960 shares of the company’s stock worth $26,158,000 after buying an additional 172,759 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in AST SpaceMobile by 342.2% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 132,087 shares of the company’s stock valued at $6,172,000 after acquiring an additional 102,217 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in AST SpaceMobile during the 2nd quarter worth approximately $21,754,000. Yarbrough Capital LLC grew its stake in shares of AST SpaceMobile by 28.0% during the 3rd quarter. Yarbrough Capital LLC now owns 99,372 shares of the company’s stock worth $4,877,000 after acquiring an additional 21,739 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of AST SpaceMobile by 14.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 77,159 shares of the company’s stock valued at $3,606,000 after purchasing an additional 9,448 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

AST SpaceMobile Company Profile

AST SpaceMobile is a U.S.-based aerospace company developing a space-based cellular broadband network designed to connect standard mobile phones and other devices directly to satellites. The company’s core proposition is “space-to-cell” service: operating a constellation of low-Earth-orbit (LEO) satellites equipped with large, high-power phased-array antennas to provide wide-area mobile broadband without requiring users to buy specialized terminals or handset modifications.

AST SpaceMobile designs, builds and operates satellite payloads and supporting ground infrastructure.