AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) rose 0.9% on Tuesday . The stock traded as high as $23.67 and last traded at $23.45. Approximately 933,092 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 10,364,271 shares. The stock had previously closed at $23.25.
Several brokerages recently commented on ASTS. Scotiabank dropped their price target on AST SpaceMobile from $45.90 to $44.70 and set a "sector outperform" rating for the company in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft increased their target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a "buy" rating in a research report on Wednesday, September 4th. B. Riley raised their price target on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, August 29th. Finally, UBS Group upped their price objective on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, November 15th.
Read Our Latest Analysis on AST SpaceMobile
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 company has a fifty day simple moving average of $24.61 and a 200-day simple moving average of $22.00. The company has a market capitalization of $6.81 billion, a PE ratio of -11.08 and a beta of 1.60.
In related news, COO Shanti B. Gupta sold 80,000 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $25.83, for a total value of $2,066,400.00. Following the completion of the transaction, the chief operating officer now directly owns 393,232 shares in the company, valued at approximately $10,157,182.56. This represents a 16.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Scott Wisniewski sold 2,700 shares of AST SpaceMobile 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 $16,476,699.20. This represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,700 shares of company stock valued at $3,220,524 over the last ninety days. Company insiders own 41.80% of the company's stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its position in AST SpaceMobile by 9.4% in the third quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company's stock valued at $85,450,000 after buying an additional 281,749 shares during the last quarter. State Street Corp lifted its holdings in shares of AST SpaceMobile by 14.8% in the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company's stock worth $80,845,000 after acquiring an additional 399,713 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of AST SpaceMobile by 228.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company's stock worth $29,594,000 after purchasing an additional 787,566 shares during the period. Oppenheimer & Co. Inc. increased its holdings in AST SpaceMobile by 6.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company's stock valued at $22,125,000 after purchasing an additional 47,600 shares during the last quarter. Finally, Privium Fund Management B.V. purchased a new stake in AST SpaceMobile in the third quarter valued at approximately $21,476,000. 60.95% of the stock is owned by institutional investors and hedge funds.
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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