AST SpaceMobile, Inc. (NASDAQ:ASTS) Given Consensus Recommendation of "Buy" by Brokerages

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) have earned a consensus rating of "Buy" from the six brokerages that are currently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $42.82.

ASTS has been the topic of several research analyst reports. Roth Capital assumed coverage on AST SpaceMobile in a report on Thursday, April 10th. They set a "buy" rating and a $42.00 price objective for the company. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 price objective on shares of AST SpaceMobile in a report on Tuesday, March 4th. UBS Group upped their price objective on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Finally, Scotiabank reiterated an "outperform" rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th.

AST SpaceMobile Price Performance

ASTS stock opened at $26.42 on Monday. The company has a market capitalization of $8.36 billion, a P/E ratio of -12.46 and a beta of 1.81. AST SpaceMobile has a 52-week low of $2.12 and a 52-week high of $39.08. The business has a 50-day simple moving average of $25.05 and a two-hundred day simple moving average of $24.54. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ASTS. Sunbelt Securities Inc. lifted its position in shares of AST SpaceMobile by 61.9% in the 1st quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company's stock worth $30,000 after purchasing an additional 505 shares during the period. Xponance Inc. lifted its holdings in AST SpaceMobile by 5.9% during the first quarter. Xponance Inc. now owns 10,244 shares of the company's stock worth $233,000 after buying an additional 568 shares during the period. KBC Group NV boosted its position in AST SpaceMobile by 15.6% during the 1st quarter. KBC Group NV now owns 7,525 shares of the company's stock valued at $171,000 after acquiring an additional 1,016 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of AST SpaceMobile by 106.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock valued at $53,000 after acquiring an additional 1,222 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of AST SpaceMobile by 388.7% in the 1st quarter. GAMMA Investing LLC now owns 1,559 shares of the company's stock worth $35,000 after acquiring an additional 1,240 shares in the last quarter. 60.95% of the stock is currently owned by 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.

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