AST SpaceMobile (NASDAQ:ASTS) Trading Up 11.6% - Still a Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) was up 11.6% during trading on Wednesday . The stock traded as high as $23.90 and last traded at $23.77. Approximately 3,138,339 shares were traded during trading, a decline of 75% from the average daily volume of 12,383,488 shares. The stock had previously closed at $21.30.

Analyst Ratings Changes

Several research analysts have commented on ASTS shares. Roth Capital assumed coverage on AST SpaceMobile in a research note on Thursday, April 10th. They set a "buy" rating and a $42.00 target price for the company. Scotiabank restated an "outperform" rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Cantor Fitzgerald restated an "overweight" rating and set a $30.00 price target on shares of AST SpaceMobile in a report on Tuesday, March 4th. Finally, UBS Group boosted their price target on AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $42.82.

AST SpaceMobile Price Performance

The company has a fifty day moving average of $25.26 and a 200 day moving average of $24.60. The firm has a market capitalization of $7.30 billion, a P/E ratio of -10.89 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.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction that occurred 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 directly owns 52,628 shares in the company, valued at approximately $1,617,258.44. This represents a 27.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 41.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On AST SpaceMobile

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of AST SpaceMobile by 49.4% during the 4th quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock worth $316,233,000 after buying an additional 4,955,941 shares in the last quarter. Geode Capital Management LLC raised its position in shares of AST SpaceMobile by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 3,496,825 shares of the company's stock worth $73,801,000 after purchasing an additional 229,759 shares during the period. T. Rowe Price Investment Management Inc. acquired a new position in shares of AST SpaceMobile during the fourth quarter worth approximately $59,523,000. Charles Schwab Investment Management Inc. boosted its holdings in AST SpaceMobile by 11.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock worth $26,728,000 after purchasing an additional 135,008 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in AST SpaceMobile by 8.8% during the fourth quarter. Northern Trust Corp now owns 1,233,056 shares of the company's stock worth $26,017,000 after purchasing an additional 100,153 shares during 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.