AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s stock price traded down 0.7% during trading on Tuesday . The stock traded as low as $21.42 and last traded at $21.66. 1,283,670 shares traded hands during trading, a decline of 88% from the average session volume of 10,290,994 shares. The stock had previously closed at $21.81.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on ASTS shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a "buy" rating in a report on Wednesday, September 4th. UBS Group lifted their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Finally, Scotiabank dropped their target price on AST SpaceMobile from $45.90 to $44.70 and set a "sector outperform" rating on the stock in a report on Friday, November 15th.
Check Out Our Latest Analysis on ASTS
AST SpaceMobile Stock Performance
The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $6.11 billion, a PE ratio of -9.95 and a beta of 1.60. The business's 50 day moving average is $24.21 and its 200 day moving average is $22.49.
Insider Buying and Selling at AST SpaceMobile
In other news, 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 value of $1,091,700.00. Following the completion of the sale, the chief technology officer now owns 55,000 shares of the company's stock, valued at approximately $1,334,300. This represents a 45.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 41.80% of the stock is currently owned by corporate insiders.
Institutional Trading of AST SpaceMobile
A number of hedge funds have recently bought and sold shares of ASTS. Fairfield Financial Advisors LTD bought 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. bought a new position in shares of AST SpaceMobile during the 3rd quarter worth approximately $68,000. Sunbelt Securities Inc. lifted its position in AST SpaceMobile by 3,380.0% during the third quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company's stock valued at $91,000 after acquiring an additional 3,380 shares during the last quarter. Finally, KBC Group NV acquired a new stake in AST SpaceMobile in the third quarter valued at approximately $104,000. Hedge funds and other institutional investors own 60.95% of the company's stock.
AST SpaceMobile Company Profile
(
Get Free Report)
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.
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