AST SpaceMobile (NASDAQ:ASTS) Trading Up 9.3% - Still a Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s stock price shot up 9.3% during trading on Thursday . The company traded as high as $26.88 and last traded at $27.02. 3,000,705 shares traded hands during trading, a decline of 69% from the average session volume of 9,747,061 shares. The stock had previously closed at $24.71.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ASTS. Scotiabank lowered their target price on AST SpaceMobile from $44.70 to $40.20 and set a "sector outperform" rating on the stock in a report on Friday, January 24th. Cantor Fitzgerald started coverage on AST SpaceMobile in a report on Thursday, February 6th. They set an "overweight" rating and a $30.00 price objective on the stock. Finally, UBS Group raised their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, AST SpaceMobile currently has an average rating of "Buy" and an average target price of $40.04.

AST SpaceMobile Stock Down 5.6 %

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 firm has a market capitalization of $8.52 billion, a PE ratio of -13.85 and a beta of 1.62. The firm has a 50-day moving average of $22.71 and a two-hundred day moving average of $24.61.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Privium Fund Management B.V. purchased a new position in AST SpaceMobile in the third quarter valued at about $21,476,000. Charles Schwab Investment Management Inc. grew its stake in AST SpaceMobile by 228.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company's stock worth $29,594,000 after purchasing an additional 787,566 shares in the last quarter. State Street Corp raised its position in shares of AST SpaceMobile by 14.8% during the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company's stock valued at $80,845,000 after acquiring an additional 399,713 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of AST SpaceMobile by 9.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company's stock worth $85,450,000 after buying an additional 281,749 shares during the last quarter. Finally, Swiss National Bank acquired a new position in AST SpaceMobile in the third quarter valued at approximately $6,911,000. 60.95% of the stock is owned by hedge funds and other 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.