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

AST SpaceMobile, Inc. (NASDAQ:ASTS) saw an increase of 0.8% in its stock price on Tuesday, trading as high as $24.70 before closing at $24.49. During the session, 1,477,418 shares changed hands, significantly lower than the average trading volume of 10,434,182 shares. The previous close was $24.30.

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Analyst Ratings

Various analysts have recently commented on AST SpaceMobile. B. Riley raised their price target from $26.00 to $36.00 and maintained a "buy" rating as reported on August 29th. Scotiabank lowered their price target from $45.90 to $44.70 and gave the stock a "sector outperform" rating in a note on November 15th. Deutsche Bank increased their target from $22.00 to $63.00 and rated the stock as a "buy" on September 4th. Additionally, UBS Group increased their price target from $30.00 to $31.00 while keeping a "buy" rating on November 15th.

Stock Movement and Financial Metrics

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

Insider Trading Activities

In recent insider trading news, CTO Huiwen Yao sold 45,000 shares of AST SpaceMobile on October 8th at an average selling price of $24.26, totaling $1,091,700. After this transaction, Yao holds 55,000 shares valued at approximately $1,334,300, representing a 45% decrease in their position. On September 30th, President Scott Wisniewski sold 2,700 shares at an average price of $23.12, totaling $62,424. Following the sale, Wisniewski owns 712,660 shares valued at around $16,476,699. Insiders have sold a total of 127,700 shares in the last three months, amounting to $3,220,524. Approximately 41.8% of the stock is owned by corporate insiders.

Institutional Investor Movements

Several institutional investors have recently modified their holdings in AST SpaceMobile. Geode Capital Management enhanced its stake by 9.4% in Q3, now owning 3,267,066 shares worth $85,450,000 after acquiring an additional 281,749 shares. State Street Corp increased its position by 14.8%, owning 3,091,577 shares valued at $80,845,000 after adding 399,713 shares last quarter. Charles Schwab Investment Management boosted its stake by 228.9% in Q3, now holding 1,131,705 shares worth $29,594,000 after buying 787,566 shares. Oppenheimer & Co. raised their holdings by 6.0%, controlling 846,072 shares valued at $22,125,000 after purchasing an additional 47,600 shares. Lastly, Privium Fund Management acquired a new stake in AST SpaceMobile worth approximately $21,476,000 during Q3. Institutional ownership stands at 60.95% of the total shares.

Company Overview

AST SpaceMobile, Inc., along with its subsidiaries, is engaged in the development of a space-based cellular broadband network aimed at providing smartphone connectivity across the United States. The company's service is intended for users who lack access to terrestrial cellular coverage. Founded in 2017, AST SpaceMobile is headquartered in Midland, Texas.

Investment Considerations

Before investing in AST SpaceMobile, it's crucial to consider various factors. Current analyst ratings suggest a "Buy," but there are alternatives that might be better investments according to top-rated analysts. Comparing AST SpaceMobile against other recommended stocks may yield insights into better opportunities in the market.

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