AST SpaceMobile (NASDAQ:ASTS) Shares Up 8.3% - Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) shares traded up 8.3% during mid-day trading on Monday . The stock traded as high as $22.86 and last traded at $21.73. 10,168,063 shares were traded during trading, a decline of 16% from the average session volume of 12,147,558 shares. The stock had previously closed at $20.07.

Wall Street Analysts Forecast Growth

Several research firms have commented on ASTS. Cantor Fitzgerald reaffirmed an "overweight" rating and issued 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 company a "buy" rating in a research report on Wednesday, March 5th. Roth Capital began coverage on AST SpaceMobile in a research report on Thursday. They set a "buy" rating and a $42.00 target price on the stock. Finally, Scotiabank restated an "outperform" rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, AST SpaceMobile has a consensus rating of "Buy" and a consensus price target of $42.82.

AST SpaceMobile Stock Performance

The stock has a market cap of $7.37 billion, a PE ratio of -10.98 and a beta of 1.81. 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 stock has a 50-day simple moving average of $26.82 and a 200-day simple moving average of $24.71.

Insider Buying and Selling

In related news, Director Julio A. Torres sold 20,000 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $30.73, for a total transaction of $614,600.00. Following the completion of the sale, the director now directly owns 52,628 shares of the company's stock, valued at approximately $1,617,258.44. This represents a 27.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 41.80% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of AST SpaceMobile by 49.4% during the 4th quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock valued at $316,233,000 after buying an additional 4,955,941 shares during the period. T. Rowe Price Investment Management Inc. purchased a new stake in shares of AST SpaceMobile during the fourth quarter valued at approximately $59,523,000. Key Colony Management LLC lifted its position in shares of AST SpaceMobile by 204.1% during the first quarter. Key Colony Management LLC now owns 596,000 shares of the company's stock worth $13,553,000 after purchasing an additional 400,000 shares in the last quarter. State Street Corp lifted its position in shares of AST SpaceMobile by 14.8% during the third quarter. State Street Corp now owns 3,091,577 shares of the company's stock worth $80,845,000 after purchasing an additional 399,713 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of AST SpaceMobile by 9.4% in the third quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company's stock valued at $85,450,000 after purchasing an additional 281,749 shares during the period. 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.