AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 7.1% Following Insider Buying Activity

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) shot up 7.1% during mid-day trading on Monday after an insider bought additional shares in the company. The stock traded as high as $55.49 and last traded at $55.00. 9,569,011 shares traded hands during mid-day trading, a decline of 21% from the average session volume of 12,087,382 shares. The stock had previously closed at $51.37.

Specifically, Director Adriana Cisneros bought 750 shares of the business’s stock in a transaction on Thursday, November 20th. The stock was bought at an average price of $50.79 per share, for a total transaction of $38,092.50. Following the transaction, the director directly owned 784,077 shares in the company, valued at $39,823,270.83. This represents a 0.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Scotiabank upgraded shares of AST SpaceMobile from a “sector underperform” rating to a “sector perform” rating and set a $45.60 price target for the company in a report on Monday. Roth Capital restated a “buy” rating on shares of AST SpaceMobile in a research note on Tuesday, August 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of AST SpaceMobile in a report on Monday, November 17th. Barclays downgraded AST SpaceMobile from an “overweight” rating to an “underweight” rating and set a $60.00 target price on the stock. in a report on Friday, October 17th. Finally, William Blair initiated coverage on shares of AST SpaceMobile in a report on Thursday, August 21st. They set a “market perform” rating on the stock. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $45.66.

AST SpaceMobile Price Performance

The company has a 50 day moving average of $66.74 and a 200 day moving average of $50.95. 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 cap of $20.19 billion, a price-to-earnings ratio of -44.35 and a beta of 2.45.

AST SpaceMobile (NASDAQ:ASTS) last posted its earnings results on Monday, November 10th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.27). The business had revenue of $14.74 million during the quarter, compared to analyst estimates of $22.04 million. AST SpaceMobile had a negative net margin of 1,639.59% and a negative return on equity of 27.76%. The firm’s revenue was up 1236.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.10) earnings per share. Equities research analysts predict that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Institutional Trading of AST SpaceMobile

A number of large investors have recently bought and sold shares of the business. Victory Capital Management Inc. raised its holdings in AST SpaceMobile by 79.9% during the 1st quarter. Victory Capital Management Inc. now owns 67,763 shares of the company’s stock worth $1,541,000 after buying an additional 30,101 shares during the period. Private Advisor Group LLC raised its holdings in shares of AST SpaceMobile by 15.8% during the first quarter. Private Advisor Group LLC now owns 21,611 shares of the company’s stock worth $491,000 after acquiring an additional 2,942 shares during the period. Cetera Investment Advisers lifted its position in AST SpaceMobile by 27.1% in the 1st quarter. Cetera Investment Advisers now owns 110,161 shares of the company’s stock valued at $2,505,000 after acquiring an additional 23,478 shares in the last quarter. Ameraudi Asset Management Inc. acquired a new position in AST SpaceMobile in the 1st quarter worth $230,000. Finally, Bank of Nova Scotia bought a new position in AST SpaceMobile during the 1st quarter worth about $5,461,000. 60.95% of the stock is owned by institutional investors.

AST SpaceMobile Company Profile

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.