AST SpaceMobile (NASDAQ:ASTS) Trading Up 1.7% – Still a Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares were up 1.7% during mid-day trading on Wednesday . The stock traded as high as $87.25 and last traded at $84.43. Approximately 10,302,144 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 16,818,107 shares. The stock had previously closed at $83.03.

Wall Street Analyst Weigh In

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

AST SpaceMobile Trading Up 1.7%

The company has a quick ratio of 9.48, a current ratio of 9.56 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $30.99 billion, a P/E ratio of -68.09 and a beta of 2.70. The firm’s 50-day moving average price is $91.93 and its 200 day moving average price is $70.78.

Insider Transactions at AST SpaceMobile

In related news, Director Keith R. Larson purchased 625 shares of the stock in a transaction that occurred on Wednesday, December 24th. The stock was acquired at an average cost of $80.00 per share, with a total value of $50,000.00. Following the transaction, the director owned 2,015 shares of the company’s stock, valued at $161,200. This represents a 44.96% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Maya Bernal sold 6,000 shares of the firm’s 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 transaction, the chief accounting officer owned 122,486 shares in the company, valued at approximately $9,034,567.36. This trade represents a 4.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders bought 2,765 shares of company stock valued at $187,236 and sold 2,354,621 shares valued at $164,348,075. 30.90% of the stock is owned by company insiders.

Institutional Trading of AST SpaceMobile

Several institutional investors have recently made changes to their positions in the company. REAP Financial Group LLC bought a new position in shares of AST SpaceMobile during the third quarter valued at about $25,000. Crewe Advisors LLC bought a new stake in AST SpaceMobile in the 4th quarter worth about $25,000. Laurel Wealth Advisors LLC bought a new stake in AST SpaceMobile in the 4th quarter worth about $25,000. Atlantic Union Bankshares Corp purchased a new stake in AST SpaceMobile in the 2nd quarter valued at about $28,000. Finally, Byrne Asset Management LLC bought a new position in shares of AST SpaceMobile during the 4th quarter worth approximately $29,000. Institutional investors own 60.95% of the company’s stock.

About AST SpaceMobile

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.