AST SpaceMobile (NASDAQ:ASTS) Trading 12.5% Higher - Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s share price shot up 12.5% during trading on Monday . The stock traded as high as $35.82 and last traded at $35.09. 13,725,206 shares traded hands during trading, an increase of 13% from the average session volume of 12,192,317 shares. The stock had previously closed at $31.19.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ASTS shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $30.00 price target on shares of AST SpaceMobile in a report on Tuesday, March 4th. Oppenheimer assumed coverage on AST SpaceMobile in a research note on Monday, May 5th. They issued a "market perform" rating on the stock. UBS Group lifted their price target on AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Roth Capital began coverage on shares of AST SpaceMobile in a report on Thursday, April 10th. They set a "buy" rating and a $42.00 target price on the stock. Finally, Scotiabank cut their price target on shares of AST SpaceMobile from $47.90 to $45.40 and set a "sector outperform" rating for the company in a report on Tuesday, May 13th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, AST SpaceMobile presently has an average rating of "Moderate Buy" and a consensus price target of $42.40.

AST SpaceMobile Stock Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The stock has a market cap of $11.25 billion, a PE ratio of -16.81 and a beta of 2.02. The company's 50-day moving average price is $24.21 and its two-hundred day moving average price is $24.63.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.03). The business had revenue of $0.72 million during the quarter, compared to analyst estimates of $3.85 million. On average, equities research analysts forecast that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Huiwen Yao sold 55,000 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $26.82, for a total value of $1,475,100.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 34.15% of the company's stock.

Institutional Trading of AST SpaceMobile

Several institutional investors have recently bought and sold shares of the company. Sunbelt Securities Inc. increased its position in AST SpaceMobile by 61.9% in the first 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 last quarter. GAMMA Investing LLC boosted its holdings 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 valued at $35,000 after buying an additional 1,240 shares in the last quarter. Summit Securities Group LLC purchased a new position in AST SpaceMobile in the fourth quarter worth $37,000. Financial Gravity Asset Management Inc. acquired a new position in AST SpaceMobile during the 1st quarter valued at about $41,000. Finally, Close Asset Management Ltd increased its stake in AST SpaceMobile by 72.4% during the 1st quarter. Close Asset Management Ltd now owns 1,810 shares of the company's stock valued at $41,000 after purchasing an additional 760 shares in the last quarter. 60.95% of the stock is owned by hedge funds and other institutional investors.

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.

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