AST SpaceMobile (NASDAQ:ASTS) Shares Up 11.6% - Time to Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) traded up 11.6% on Wednesday . The stock traded as high as $23.90 and last traded at $23.77. 3,138,339 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 12,383,488 shares. The stock had previously closed at $21.30.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. UBS Group upped 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. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 target price on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Scotiabank restated an "outperform" rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Finally, Roth Capital began coverage on shares of AST SpaceMobile in a research report on Thursday, April 10th. They set a "buy" rating and a $42.00 target price on the stock. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, AST SpaceMobile has a consensus rating of "Buy" and a consensus target price of $42.82.

AST SpaceMobile Stock Up 7.1 %

The stock has a market cap of $7.22 billion, a P/E ratio of -10.76 and a beta of 1.81. 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 firm's 50-day moving average is $26.05 and its two-hundred day moving average is $24.60.

Insider Activity at AST SpaceMobile

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its position in shares of AST SpaceMobile by 388.7% during the 1st quarter. GAMMA Investing LLC now owns 1,559 shares of the company's stock worth $35,000 after buying an additional 1,240 shares during the period. Summit Securities Group LLC acquired a new position in AST SpaceMobile during the fourth quarter valued at approximately $37,000. Bernard Wealth Management Corp. bought a new stake in AST SpaceMobile in the fourth quarter valued at approximately $42,000. UMB Bank n.a. acquired a new stake in AST SpaceMobile in the first quarter worth $45,000. Finally, ORG Partners LLC bought a new position in shares of AST SpaceMobile during the first quarter worth $48,000. 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.

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