AST SpaceMobile (NASDAQ:ASTS) Given New $31.00 Price Target at UBS Group

AST SpaceMobile (NASDAQ:ASTS) had its price target boosted by UBS Group from $30.00 to $31.00 in a research report released on Friday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other analysts also recently issued reports on the stock. Scotiabank increased their price objective on shares of AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. Deutsche Bank Aktiengesellschaft raised their price target on shares of AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, B. Riley boosted their price objective on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 29th.

AST SpaceMobile Price Performance

ASTS stock opened at $25.80 on Friday. The firm has a market cap of $6.95 billion, a P/E ratio of -12.17 and a beta of 1.64. The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38. AST SpaceMobile has a 1 year low of $1.97 and a 1 year high of $39.08. The stock has a 50-day simple moving average of $25.62 and a 200-day simple moving average of $18.69.

Insider Activity

In related news, Director Adriana Cisneros bought 4,934 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $26.32 per share, for a total transaction of $129,862.88. Following the purchase, the director now owns 774,772 shares in the company, valued at $20,391,999.04. This trade represents a 0.64 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Scott Wisniewski sold 2,700 shares of AST SpaceMobile stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $23.12, for a total value of $62,424.00. Following the completion of the transaction, the president now owns 712,660 shares of the company’s stock, valued at $16,476,699.20. This trade represents a 0.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 127,700 shares of company stock worth $3,220,524. 41.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of AST SpaceMobile by 49.9% during the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after purchasing an additional 2,217,531 shares during the last quarter. American International Group Inc. increased its position in AST SpaceMobile by 41.5% in the first quarter. American International Group Inc. now owns 56,527 shares of the company’s stock worth $164,000 after buying an additional 16,568 shares during the period. Natixis lifted its stake in AST SpaceMobile by 62.2% in the first quarter. Natixis now owns 55,863 shares of the company’s stock valued at $162,000 after buying an additional 21,430 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of AST SpaceMobile by 71.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 55,335 shares of the company’s stock valued at $161,000 after acquiring an additional 22,987 shares during the period. Finally, Masters Capital Management LLC bought a new position in shares of AST SpaceMobile during the first quarter worth about $2,900,000. 60.95% of the stock is currently owned by institutional investors.

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.