AST SpaceMobile (NASDAQ:ASTS) Coverage Initiated by Analysts at Roth Capital

Equities research analysts at Roth Capital assumed coverage on shares of AST SpaceMobile (NASDAQ:ASTS - Get Free Report) in a report released on Thursday, Marketbeat Ratings reports. The firm set a "buy" rating and a $42.00 price target on the stock. Roth Capital's price objective would indicate a potential upside of 83.33% from the stock's previous close.

Other analysts have also recently issued reports about the company. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 price objective on shares of AST SpaceMobile in a research 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 report on Wednesday, March 5th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $42.82.

AST SpaceMobile Stock Performance

Shares of AST SpaceMobile stock traded down $0.37 during trading on Thursday, hitting $22.91. 4,675,471 shares of the stock were exchanged, compared to its average volume of 12,303,928. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average price of $26.82 and a 200-day moving average price of $24.72. The stock has a market capitalization of $7.25 billion, a price-to-earnings ratio of -10.81 and a beta of 1.81. AST SpaceMobile has a 1-year low of $1.99 and a 1-year high of $39.08.

Insider Buying and Selling

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $30.73, for a total transaction of $614,600.00. Following the transaction, the director now owns 52,628 shares in the company, valued at $1,617,258.44. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 41.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Summit Securities Group LLC bought a new position in AST SpaceMobile in the 4th quarter valued at about $37,000. Bernard Wealth Management Corp. acquired a new stake in shares of AST SpaceMobile during the 4th quarter worth approximately $42,000. UMB Bank n.a. acquired a new stake in shares of AST SpaceMobile during the 1st quarter worth approximately $45,000. Golden State Wealth Management LLC bought a new position in AST SpaceMobile in the fourth quarter valued at approximately $46,000. Finally, CIBC Private Wealth Group LLC raised its position in AST SpaceMobile by 106.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock valued at $53,000 after purchasing an additional 1,222 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company's stock.

About AST SpaceMobile

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.