AST SpaceMobile (NASDAQ:ASTS) Trading Up 1.1% - Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s share price rose 1.1% during mid-day trading on Wednesday . The stock traded as high as $29.20 and last traded at $28.86. Approximately 2,191,847 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 11,975,451 shares. The stock had previously closed at $28.55.

Analysts Set New Price Targets

ASTS has been the topic of several analyst reports. UBS Group upped their target price on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $30.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Finally, Scotiabank reissued an "outperform" rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AST SpaceMobile presently has an average rating of "Buy" and a consensus target price of $42.98.

AST SpaceMobile Price Performance

The stock has a market capitalization of $7.61 billion, a PE ratio of -11.35 and a beta of 1.62. The firm's fifty day moving average price is $26.45 and its two-hundred day moving average price is $25.15. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31.

Insiders Place Their Bets

In other news, Director Julio A. Torres sold 20,000 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $30.73, for a total value of $614,600.00. Following the transaction, the director now directly owns 52,628 shares in the company, valued at $1,617,258.44. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 41.80% of the stock is currently owned by insiders.

Remove Ads

Institutional Investors Weigh In On AST SpaceMobile

A number of large investors have recently made changes to their positions in the company. Summit Securities Group LLC purchased a new position in shares of AST SpaceMobile in the fourth quarter worth approximately $37,000. Bernard Wealth Management Corp. bought a new stake in AST SpaceMobile during the fourth quarter valued at about $42,000. Golden State Wealth Management LLC purchased a new stake in AST SpaceMobile in the fourth quarter worth about $46,000. CIBC Private Wealth Group LLC raised its stake in shares of AST SpaceMobile by 106.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock worth $53,000 after buying an additional 1,222 shares during the period. Finally, AlphaQuest LLC bought a new position in shares of AST SpaceMobile in the fourth quarter worth about $67,000. 60.95% of the stock is currently owned by institutional investors.

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.