Oppenheimer Initiates Coverage on AST SpaceMobile (NASDAQ:ASTS)

Research analysts at Oppenheimer initiated coverage on shares of AST SpaceMobile (NASDAQ:ASTS - Get Free Report) in a note issued to investors on Monday, Marketbeat.com reports. The firm set a "market perform" rating on the stock.

Several other research analysts have also commented on ASTS. Scotiabank restated an "outperform" rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. UBS Group raised their price objective on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Roth Capital started coverage on AST SpaceMobile in a report on Thursday, April 10th. They set a "buy" rating and a $42.00 target price on the stock. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $30.00 target price on shares of AST SpaceMobile in a research note on Tuesday, March 4th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $42.82.

AST SpaceMobile Trading Down 0.2 %

Shares of ASTS stock traded down $0.05 during trading hours on Monday, reaching $25.27. The company's stock had a trading volume of 6,867,049 shares, compared to its average volume of 12,725,085. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile has a one year low of $2.12 and a one year high of $39.08. The stock has a market capitalization of $8.00 billion, a P/E ratio of -11.92 and a beta of 2.05. The firm's fifty day simple moving average is $24.94 and its 200 day simple moving average is $24.51.

Insider Buying and Selling at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $30.73, for a total transaction of $614,600.00. Following the transaction, the director now owns 52,628 shares in the company, valued at $1,617,258.44. This represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 41.80% of the company's stock.

Institutional Investors Weigh In On AST SpaceMobile

A number of hedge funds have recently added to or reduced their stakes in ASTS. JPMorgan Chase & Co. grew its holdings in shares of AST SpaceMobile by 235.9% in the third quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company's stock worth $6,479,000 after acquiring an additional 174,007 shares during the period. Key Colony Management LLC grew its stake in shares of AST SpaceMobile by 44.1% during the 4th quarter. Key Colony Management LLC now owns 196,000 shares of the company's stock valued at $4,136,000 after purchasing an additional 60,000 shares during the period. Lake Hills Wealth Management LLC purchased a new stake in shares of AST SpaceMobile during the 4th quarter valued at about $374,000. KBC Group NV lifted its stake in shares of AST SpaceMobile by 63.8% in the 4th quarter. KBC Group NV now owns 6,509 shares of the company's stock worth $137,000 after purchasing an additional 2,536 shares during the period. Finally, MBE Wealth Management LLC boosted its holdings in shares of AST SpaceMobile by 7.0% in the fourth quarter. MBE Wealth Management LLC now owns 39,718 shares of the company's stock worth $838,000 after buying an additional 2,602 shares during the last quarter. 60.95% of the stock is currently 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.