AST SpaceMobile (NASDAQ:ASTS) Shares Up 2.8% - What's Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) shares shot up 2.8% during mid-day trading on Friday . The stock traded as high as $26.98 and last traded at $26.86. 2,895,092 shares were traded during trading, a decline of 76% from the average session volume of 11,866,571 shares. The stock had previously closed at $26.12.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ASTS shares. Scotiabank restated an "outperform" rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. UBS Group lifted their target price on AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 price target on shares of AST SpaceMobile in a report on Tuesday, March 4th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $42.98.

AST SpaceMobile Stock Up 8.0 %

The firm's 50 day simple moving average is $25.44 and its 200 day simple moving average is $25.36. 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 company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31.

Insiders Place Their Bets

In other news, Director Julio A. Torres sold 20,000 shares of the firm's 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 directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 41.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AST SpaceMobile

Large investors have recently bought and sold shares of the stock. Bernard Wealth Management Corp. bought a new position in shares of AST SpaceMobile in the fourth quarter valued at approximately $42,000. First Heartland Consultants Inc. boosted its stake in 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 AST SpaceMobile during the 4th quarter valued at $541,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of AST SpaceMobile by 49.7% during 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 shares of AST SpaceMobile in the 4th quarter worth $4,684,000. 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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