AST SpaceMobile (NASDAQ:ASTS) Trading 3.2% Higher - Still a Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s share price traded up 3.2% during trading on Thursday . The company traded as high as $29.15 and last traded at $28.12. 4,465,556 shares were traded during mid-day trading, a decline of 62% from the average session volume of 11,701,399 shares. The stock had previously closed at $27.24.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. UBS Group boosted their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Scotiabank dropped their price target on AST SpaceMobile from $44.70 to $40.20 and set a "sector outperform" rating on the stock in a research report on Friday, January 24th. Finally, Cantor Fitzgerald upgraded AST SpaceMobile to a "strong-buy" rating in a research note on Tuesday, February 25th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, AST SpaceMobile presently has an average rating of "Buy" and an average price target of $40.04.

AST SpaceMobile Trading Up 3.9 %

The firm has a 50-day moving average of $24.21 and a 200 day moving average of $25.53. 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 cap of $7.85 billion, a P/E ratio of -12.79 and a beta of 1.62.

Institutional Investors Weigh In On AST SpaceMobile

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in AST SpaceMobile by 235.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company's stock valued at $6,479,000 after acquiring an additional 174,007 shares in the last quarter. Van ECK Associates Corp grew its position in shares of AST SpaceMobile by 141.1% during the 3rd quarter. Van ECK Associates Corp now owns 103,437 shares of the company's stock valued at $2,716,000 after acquiring an additional 60,530 shares during the period. Algert Global LLC bought a new position in AST SpaceMobile in the 3rd quarter worth $768,000. Americana Partners LLC purchased a new stake in AST SpaceMobile during the 3rd quarter valued at about $673,000. Finally, Oppenheimer & Co. Inc. raised its stake in shares of AST SpaceMobile by 6.0% in the third quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company's stock worth $22,125,000 after purchasing an additional 47,600 shares during the last quarter. Hedge funds and other institutional investors own 60.95% of the company's stock.

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.