AST SpaceMobile (NASDAQ:ASTS) Shares Up 0.2% - Still a Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) shares shot up 0.2% on Tuesday . The stock traded as high as $22.85 and last traded at $22.79. 2,716,036 shares were traded during trading, a decline of 77% from the average session volume of 12,044,361 shares. The stock had previously closed at $22.74.

Wall Street Analysts Forecast Growth

ASTS has been the subject of a number of analyst reports. Cantor Fitzgerald reissued an "overweight" rating and set a $30.00 target price on shares of AST SpaceMobile in a research note on Tuesday, March 4th. UBS Group lifted their price objective on 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 reissued an "outperform" rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $42.98.

AST SpaceMobile Price Performance

The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of -10.18 and a beta of 1.62. The business's fifty day simple moving average is $26.49 and its 200 day simple moving average is $25.00.

Insider Activity

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was 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 in the company, valued at approximately $1,617,258.44. This represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 41.80% of the stock is currently owned by company insiders.

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Institutional Investors Weigh In On AST SpaceMobile

Several hedge funds and other institutional investors have recently modified their holdings of the company. Xponance Inc. grew its position in AST SpaceMobile by 8.7% in the 4th quarter. Xponance Inc. now owns 9,676 shares of the company's stock valued at $204,000 after purchasing an additional 772 shares during the period. CIBC Private Wealth Group LLC grew its holdings in shares of 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 buying an additional 1,222 shares during the last quarter. Americana Partners LLC increased its position in shares of AST SpaceMobile by 5.2% during the fourth quarter. Americana Partners LLC now owns 27,047 shares of the company's stock worth $571,000 after acquiring an additional 1,326 shares in the last quarter. Axxcess Wealth Management LLC raised its holdings in shares of AST SpaceMobile by 16.7% in the 4th quarter. Axxcess Wealth Management LLC now owns 10,562 shares of the company's stock worth $223,000 after acquiring an additional 1,508 shares during the last quarter. Finally, Colonial River Investments LLC lifted its position in AST SpaceMobile by 17.3% in the 4th quarter. Colonial River Investments LLC now owns 10,618 shares of the company's stock valued at $224,000 after acquiring an additional 1,564 shares in the last quarter. 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.