AST SpaceMobile, Inc. (NASDAQ:ASTS) Given Average Rating of "Buy" by Brokerages

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) have been assigned a consensus rating of "Buy" from the six ratings firms that are covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have issued a report on the stock in the last year is $42.82.

Several equities research analysts recently weighed in on ASTS shares. Roth Capital initiated coverage on AST SpaceMobile in a report on Thursday. They issued a "buy" rating and a $42.00 target price for the company. Cantor Fitzgerald restated an "overweight" rating and set a $30.00 price target on shares of AST SpaceMobile in a report on Tuesday, March 4th. UBS Group raised their price target on AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Finally, Scotiabank reissued an "outperform" rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th.

AST SpaceMobile Stock Down 1.6 %

NASDAQ ASTS traded down $0.37 during trading on Thursday, hitting $22.91. 4,675,471 shares of the company traded hands, compared to its average volume of 12,303,928. AST SpaceMobile has a 12 month low of $1.99 and a 12 month high of $39.08. The business has a fifty day simple moving average of $26.82 and a 200 day simple moving average of $24.72. The company has a market capitalization of $7.25 billion, a P/E ratio of -10.81 and a beta of 1.81. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $30.73, for a total transaction of $614,600.00. Following the completion of the sale, the director now directly owns 52,628 shares of the company's stock, valued at approximately $1,617,258.44. The trade was a 27.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 41.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AST SpaceMobile

Several institutional investors have recently modified their holdings of ASTS. Vanguard Group Inc. boosted its holdings in AST SpaceMobile by 49.4% during the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock worth $316,233,000 after buying an additional 4,955,941 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new position in AST SpaceMobile during the 4th quarter worth approximately $59,523,000. Key Colony Management LLC boosted its stake in AST SpaceMobile by 204.1% during the 1st quarter. Key Colony Management LLC now owns 596,000 shares of the company's stock worth $13,553,000 after acquiring an additional 400,000 shares during the last quarter. State Street Corp grew its holdings in AST SpaceMobile by 14.8% during the third quarter. State Street Corp now owns 3,091,577 shares of the company's stock valued at $80,845,000 after purchasing an additional 399,713 shares during the period. Finally, Geode Capital Management LLC increased its stake in AST SpaceMobile by 9.4% in the third quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company's stock valued at $85,450,000 after purchasing an additional 281,749 shares in the last quarter. Institutional investors and hedge funds 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.