AST SpaceMobile (NASDAQ:ASTS) Shares Up 13.7% - Time to Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s stock price rose 13.7% during trading on Wednesday . The stock traded as high as $30.99 and last traded at $29.76. Approximately 8,130,186 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 11,643,170 shares. The stock had previously closed at $26.17.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ASTS. UBS Group lifted their price objective on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Cantor Fitzgerald raised shares of AST SpaceMobile to a "strong-buy" rating in a report on Tuesday. Finally, Scotiabank dropped their price objective on shares of AST SpaceMobile from $44.70 to $40.20 and set a "sector outperform" rating for the company in a report on Friday, January 24th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $40.04.

AST SpaceMobile Price Performance

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 company has a market capitalization of $7.85 billion, a P/E ratio of -12.79 and a beta of 1.62. The business's fifty day moving average price is $24.21 and its 200-day moving average price is $25.50.

Hedge Funds Weigh In On AST SpaceMobile

Large investors have recently added to or reduced their stakes in the business. Fairfield Financial Advisors LTD purchased a new position in AST SpaceMobile in the 3rd quarter worth $26,000. Hollencrest Capital Management purchased a new position in AST SpaceMobile in the 3rd quarter worth $26,000. Summit Securities Group LLC purchased a new position in AST SpaceMobile in the 4th quarter worth $37,000. Bernard Wealth Management Corp. purchased a new position in AST SpaceMobile in the 4th quarter worth $42,000. Finally, Golden State Wealth Management LLC purchased a new position in AST SpaceMobile in the 4th quarter worth $46,000. Hedge funds and other 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.