AST SpaceMobile (NASDAQ:ASTS) Shares Gap Down to $23.83

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price gapped down prior to trading on Friday . The stock had previously closed at $23.83, but opened at $23.15. AST SpaceMobile shares last traded at $22.56, with a volume of 3,128,711 shares changing hands.

Wall Street Analysts Forecast Growth

ASTS has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Scotiabank raised their target price on AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a report on Monday, August 26th. UBS Group raised their price objective on AST SpaceMobile from $13.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, B. Riley upped their target price 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.

AST SpaceMobile Trading Up 6.3 %

The stock’s 50 day simple moving average is $25.48 and its two-hundred day simple moving average is $12.87. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38. The stock has a market capitalization of $6.52 billion, a PE ratio of -25.84 and a beta of 1.63.

AST SpaceMobile (NASDAQ:ASTS) last posted its earnings results on Wednesday, August 14th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.05. The business had revenue of $0.90 million for the quarter, compared to analysts’ expectations of $2.00 million. On average, sell-side analysts expect that AST SpaceMobile, Inc. will post -0.88 EPS for the current year.

Insider Activity at AST SpaceMobile

In related news, Director Adriana Cisneros purchased 4,934 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $26.32 per share, with a total value of $129,862.88. Following the acquisition, the director now directly owns 774,772 shares of the company’s stock, valued at $20,391,999.04. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 56.56% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AST SpaceMobile

Several institutional investors and hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC grew its stake in shares of AST SpaceMobile by 209.9% during the first quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock valued at $21,606,000 after buying an additional 5,046,667 shares during the last quarter. Vanguard Group Inc. boosted its position in AST SpaceMobile by 49.9% during the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after buying an additional 2,217,531 shares during the period. Broad Run Investment Management LLC grew its holdings in AST SpaceMobile by 74.8% in the 4th quarter. Broad Run Investment Management LLC now owns 3,962,853 shares of the company’s stock worth $23,896,000 after acquiring an additional 1,695,805 shares during the last quarter. Masters Capital Management LLC purchased a new position in shares of AST SpaceMobile in the first quarter valued at about $2,900,000. Finally, Oppenheimer & Co. Inc. bought a new position in shares of AST SpaceMobile during the second quarter valued at about $9,270,000. Institutional investors own 60.95% of the company’s stock.

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.