AST SpaceMobile (NASDAQ:ASTS) Trading Up 0.8% - What's Next?

On Tuesday, AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) saw its stock price rise by 0.8%. The stock reached a high of $24.70 before closing at $24.49, down from a prior close of $24.30. In total, 1,477,418 shares were traded, marking a significant decrease of 86% compared to the average trading volume of 10,434,182 shares.

Analyst Opinions

In recent days, several analysts have reviewed AST SpaceMobile. B. Riley raised their price target from $26.00 to $36.00, categorizing the stock as a "buy" in a report dated August 29. Scotiabank adjusted their target price from $45.90 to $44.70, maintaining a "sector outperform" rating as of November 15. Deutsche Bank Aktiengesellschaft also increased their price target from $22.00 to $63.00 and gave it a "buy" rating on September 4. Finally, UBS Group raised its price objective from $30.00 to $31.00 on November 15, designated it as a "buy" as well.

Current Trading Situation

The current 50-day moving average for shares of AST SpaceMobile stands at $24.65, while the 200-day moving average is $21.48. The company has robust liquidity, with a current ratio and quick ratio both at 5.80, along with a debt-to-equity ratio of 0.31. AST SpaceMobile has a market capitalization of $7.23 billion and a price-to-earnings ratio of -11.55, with a beta of 1.60.

Insider Trading Activity

Recently, there have been some significant insider transactions at AST SpaceMobile. On October 8, CTO Huiwen Yao sold 45,000 shares at an average price of $24.26, totaling approximately $1,091,700. Following this transaction, Yao holds 55,000 shares valued around $1,334,300. This sale represents a substantial 45% reduction in Yao's ownership. On September 30, President Scott Wisniewski sold 2,700 shares for about $62,424, resulting in a minor decrease of 0.38% in his holdings, leaving him with 712,660 shares valued at about $16,476,699. Over the last 90 days, insiders have sold a total of 127,700 shares, amounting to $3,220,524, and corporate insiders own approximately 41.80% of the company's stock.

Institutional Investors Take Positions

Several institutional investors have either increased or decreased their position in AST SpaceMobile recently. Geode Capital Management raised their stake by 9.4% in the third quarter and now owns 3,267,066 shares, worth approximately $85,450,000. State Street Corp boosted its holdings by 14.8%, acquiring an additional 399,713 shares, now totaling 3,091,577 shares valued at around $80,845,000. Charles Schwab Investment Management increased its position by an impressive 228.9%, owning 1,131,705 shares worth $29,594,000 after purchasing 787,566 additional shares. Oppenheimer & Co. Inc. raised its holdings by 6.0%, leading to a total of 846,072 shares valued at $22,125,000. Furthermore, Privium Fund Management made a new investment in AST SpaceMobile during the third quarter, valued at approximately $21,476,000. Together, institutional investors now own about 60.95% of the company.

Company Overview

AST SpaceMobile, Inc., along with its subsidiaries, specializes in creating a space-based cellular broadband network aimed at providing smartphone access in the United States. Their service caters primarily to users who are outside the reach of traditional cellular networks. Founded in 2017, the company is headquartered in Midland, Texas.

Investment Considerations

Potential investors should exercise caution when considering AST SpaceMobile as an investment option. Despite receiving a "buy" rating from various analysts, other top-rated analysts have identified five alternative stocks that may present better buying opportunities.

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