AST SpaceMobile (NASDAQ:ASTS) Trading 0.2% Higher - Should You Buy?

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

Analyst Upgrades and Downgrades

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

AST SpaceMobile Stock Down 7.0 %

The stock has a market capitalization of $6.35 billion, a P/E ratio of -9.47 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 firm has a 50 day moving average of $26.49 and a 200-day moving average of $24.91.

Insider Buying and Selling at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction dated 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 owns 52,628 shares in the company, valued at $1,617,258.44. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 41.80% of the company's stock.

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Hedge Funds Weigh In On AST SpaceMobile

Institutional investors have recently bought and sold shares of the business. Key Colony Management LLC increased its position in AST SpaceMobile by 204.1% in the 1st quarter. Key Colony Management LLC now owns 596,000 shares of the company's stock valued at $13,553,000 after acquiring an additional 400,000 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of AST SpaceMobile by 15.2% in the 4th quarter. California State Teachers Retirement System now owns 147,430 shares of the company's stock valued at $3,111,000 after purchasing an additional 19,471 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of AST SpaceMobile during the 4th quarter worth approximately $217,000. Bernard Wealth Management Corp. bought a new stake in shares of AST SpaceMobile during the fourth quarter worth approximately $42,000. Finally, First Heartland Consultants Inc. boosted its stake in AST SpaceMobile by 42.3% in the fourth quarter. First Heartland Consultants Inc. now owns 14,499 shares of the company's stock valued at $306,000 after acquiring an additional 4,311 shares during 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.