AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 2.2% - Still a Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s stock price rose 2.2% on Friday . The company traded as high as $24.95 and last traded at $25.22. Approximately 2,133,858 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 11,927,525 shares. The stock had previously closed at $24.69.

Analysts Set New Price Targets

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

AST SpaceMobile Stock Up 9.7 %

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 business's fifty day moving average price is $25.84 and its two-hundred day moving average price is $25.12. The stock has a market capitalization of $8.93 billion, a PE ratio of -13.29 and a beta of 1.62.

Insiders Place Their Bets

In related news, Director Julio A. Torres sold 20,000 shares of AST SpaceMobile stock in a transaction dated Monday, March 10th. The stock was 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 owns 52,628 shares of the company's stock, valued at $1,617,258.44. The trade was a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 41.80% of the stock is currently owned by insiders.

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Hedge Funds Weigh In On AST SpaceMobile

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in AST SpaceMobile by 49.4% during the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock valued at $316,233,000 after purchasing an additional 4,955,941 shares during the period. Geode Capital Management LLC raised its stake in shares of AST SpaceMobile by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 3,496,825 shares of the company's stock valued at $73,801,000 after buying an additional 229,759 shares during the last quarter. State Street Corp lifted its holdings in shares of AST SpaceMobile by 14.8% in the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company's stock valued at $80,845,000 after buying an additional 399,713 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in AST SpaceMobile during the fourth quarter worth about $59,523,000. Finally, Charles Schwab Investment Management Inc. raised its position in AST SpaceMobile by 11.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock valued at $26,728,000 after acquiring an additional 135,008 shares in the last quarter. 60.95% of the stock is owned by hedge funds and other 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.