AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 2.8% - Time to Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s stock price shot up 2.8% during mid-day trading on Friday . The stock traded as high as $26.98 and last traded at $26.86. 2,895,092 shares were traded during mid-day trading, a decline of 76% from the average session volume of 11,866,571 shares. The stock had previously closed at $26.12.

Analyst Upgrades and Downgrades

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

AST SpaceMobile Trading Down 2.3 %

The business has a fifty day moving average price of $25.67 and a 200-day moving average price of $25.23. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The company has a market cap of $8.12 billion, a P/E ratio of -12.10 and a beta of 1.62.

Insider Buying and Selling

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $30.73, for a total transaction of $614,600.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 41.80% of the stock is currently owned by insiders.

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Institutional Investors Weigh In On AST SpaceMobile

Institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in AST SpaceMobile by 235.9% during the third quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company's stock worth $6,479,000 after acquiring an additional 174,007 shares during the period. Algert Global LLC bought a new position in AST SpaceMobile during the third quarter worth about $768,000. Handelsbanken Fonder AB bought a new position in AST SpaceMobile during the fourth quarter worth about $755,000. Charles Schwab Investment Management Inc. increased its position in AST SpaceMobile by 228.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company's stock worth $29,594,000 after acquiring an additional 787,566 shares during the period. Finally, Van ECK Associates Corp increased its position in AST SpaceMobile by 150.1% during the fourth quarter. Van ECK Associates Corp now owns 258,747 shares of the company's stock worth $5,460,000 after acquiring an additional 155,310 shares during the period. 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.