Shares of AST SpaceMobile (NASDAQ:ASTS) rose 1.6%

AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Your Free Report ) rose 1.6% on Monday. The stock traded as high as $26.70 and last traded at $25.73. About 4,898,124 shares changed hands during trading, down 54% from the average daily volume of 10,570,712 shares. Shares previously closed at $25.32.

Analysts on Wall Street are forecasting an increase

Several equities analysts recently weighed in on ASTS shares. B. Riley boosted their price target on AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft boosted their price target on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Scotiabank boosted their price objective on AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Finally, UBS Group boosted their price objective on AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, August 15th.

Read our latest report on AST SpaceMobile

AST SpaceMobile stock performance

The company’s 50-day simple moving average is $25.48, and its 200-day simple moving average is $12.94. The firm has a market cap of $6.73 billion, a price-to-earnings ratio of -27.06 and a beta of 1.63. 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 (NASDAQ:ASTS – Get Your Free Report ) last issued its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. The company had revenue of $0.90 million for the quarter, compared to analyst estimates of $2.00 million. Sell-side analysts forecast that AST SpaceMobile, Inc. will post -0.88 earnings per share for the current fiscal year.

Insiders place their bets

In related news, Director Adriana Cisneros bought 4,934 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was bought at an average price of $26.32 per share, with a total value 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. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. 56.56% of shares are owned by insiders.

Hedge funds influence AST SpaceMobile

Several institutional investors have recently modified their holdings of ASTS. B. Riley Wealth Advisors Inc. purchased a new stake in shares of AST SpaceMobile in the second quarter valued at about $278,000. Scientech Research LLC purchased a new position in AST SpaceMobile in the second quarter valued at about $774,000. Sender Co & Partners Inc. acquired a new position in AST SpaceMobile in the second quarter valued at about $177,000. The Manufacturers Life Insurance Company raised its position in shares of AST SpaceMobile by 31.9% in the second quarter. The Manufacturers Life Insurance Company now owns 51,209 shares of the company’s stock valued at $595,000 after purchasing an additional 12,391 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in shares of AST SpaceMobile by 150.4% in the second quarter. Marshall Wace LLP now owns 126,685 shares of the company’s stock valued at $1,471,000 after acquiring an additional 76,088 shares during the last quarter. Institutional investors and hedge funds own 60.95% of the company’s shares.

AST SpaceMobile Company Profile

(Get a free report)

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end users outside of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.

Further reading

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