AST SpaceMobile (NASDAQ:ASTS) Shares Up 5.9% - Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s stock price traded up 5.9% on Thursday . The company traded as high as $29.79 and last traded at $29.23. 4,823,911 shares were traded during trading, a decline of 57% from the average session volume of 11,295,948 shares. The stock had previously closed at $27.61.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Scotiabank reduced their price target on shares of AST SpaceMobile from $44.70 to $40.20 and set a "sector outperform" rating on the stock in a report on Friday, January 24th. Cantor Fitzgerald assumed coverage on AST SpaceMobile in a research report on Thursday, February 6th. They set an "overweight" rating and a $30.00 price objective for the company. Finally, UBS Group boosted their target price on AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $40.04.

AST SpaceMobile Stock Down 3.7 %

The business's 50 day simple moving average is $23.45 and its 200 day simple moving average is $25.08. 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 firm has a market capitalization of $8.95 billion, a PE ratio of -14.58 and a beta of 1.62.

Institutional Investors Weigh In On AST SpaceMobile

Large investors have recently added to or reduced their stakes in the stock. Hollencrest Capital Management purchased a new position in shares of AST SpaceMobile in the 3rd quarter worth approximately $26,000. Fairfield Financial Advisors LTD purchased a new position in AST SpaceMobile during the third quarter worth $26,000. Summit Securities Group LLC bought a new position in AST SpaceMobile during the fourth quarter valued at $37,000. Golden State Wealth Management LLC purchased a new stake in shares of AST SpaceMobile in the fourth quarter valued at $46,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in shares of AST SpaceMobile by 106.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock worth $53,000 after acquiring an additional 1,222 shares during the last quarter. 60.95% of the stock is owned by institutional investors.

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.