Scotiabank Issues Pessimistic Forecast for AST SpaceMobile (NASDAQ:ASTS) Stock Price

AST SpaceMobile (NASDAQ:ASTS) had its price target reduced by Scotiabank from $45.90 to $44.70 in a research report report published on Friday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

ASTS has been the topic of a number of other research reports. UBS Group increased their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday. B. Riley increased their price target on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 4th.

AST SpaceMobile Trading Down 9.6 %

ASTS stock opened at $24.23 on Friday. AST SpaceMobile has a 52 week low of $1.97 and a 52 week high of $39.08. The company has a market capitalization of $6.53 billion, a PE ratio of -11.43 and a beta of 1.64. The company’s 50-day simple moving average is $25.63 and its 200 day simple moving average is $18.52. The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38.

Insider Transactions at AST SpaceMobile

In other AST SpaceMobile news, COO Shanti B. Gupta sold 80,000 shares of AST SpaceMobile stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $25.83, for a total value of $2,066,400.00. Following the transaction, the chief operating officer now owns 393,232 shares in the company, valued at $10,157,182.56. The trade was a 16.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Adriana Cisneros bought 4,934 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was bought at an average cost 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 approximately $20,391,999.04. The trade was a 0.64 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 127,700 shares of company stock valued at $3,220,524. Company insiders own 41.80% of the company’s stock.

Hedge Funds Weigh In On AST SpaceMobile

A number of institutional investors have recently added to or reduced their stakes in the stock. Fairfield Financial Advisors LTD bought a new stake in shares of AST SpaceMobile during the third quarter worth $26,000. Hollencrest Capital Management bought a new stake in AST SpaceMobile during the 3rd quarter worth $26,000. Rakuten Securities Inc. acquired a new position in AST SpaceMobile in the 3rd quarter worth about $68,000. Black Maple Capital Management LP bought a new position in AST SpaceMobile in the first quarter valued at about $87,000. Finally, KBC Group NV acquired a new stake in shares of AST SpaceMobile during the third quarter valued at about $104,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.