AST SpaceMobile (NASDAQ:ASTS) Trading 2.8% Higher – Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price rose 2.8% during trading on Friday . The company traded as high as $26.98 and last traded at $26.86. Approximately 2,895,092 shares were traded during trading, a decline of 76% from the average daily volume of 11,866,571 shares. The stock had previously closed at $26.12.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ASTS shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 target price on shares of AST SpaceMobile in a research note on Tuesday, March 4th. UBS Group boosted their price objective on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Finally, Scotiabank reiterated an “outperform” rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $42.98.

AST SpaceMobile Stock Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The company has a market cap of $8.92 billion, a price-to-earnings ratio of -13.26 and a beta of 1.62. The firm’s 50-day moving average price is $25.44 and its 200 day moving average price is $25.36.

Insider Buying and Selling at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $30.73, for a total value of $614,600.00. Following the completion of the sale, the director now owns 52,628 shares in the company, valued at approximately $1,617,258.44. This represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 41.80% of the company’s stock.

Hedge Funds Weigh In On AST SpaceMobile

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASTS. Bernard Wealth Management Corp. bought a new stake in shares of AST SpaceMobile in the 4th quarter valued at about $42,000. First Heartland Consultants Inc. lifted its holdings in shares of AST SpaceMobile by 42.3% during the 4th quarter. First Heartland Consultants Inc. now owns 14,499 shares of the company’s stock valued at $306,000 after purchasing an additional 4,311 shares in the last quarter. PharVision Advisers LLC bought a new position in shares of AST SpaceMobile during the 4th quarter valued at about $541,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of AST SpaceMobile by 49.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 275,810 shares of the company’s stock valued at $5,820,000 after purchasing an additional 91,536 shares during the period. Finally, Twinbeech Capital LP bought a new stake in AST SpaceMobile during the 4th quarter worth approximately $4,684,000. 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.