AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 3.2% – Still a Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price rose 3.2% during mid-day trading on Thursday . The company traded as high as $29.15 and last traded at $28.12. Approximately 4,465,556 shares traded hands during trading, a decline of 62% from the average daily volume of 11,701,399 shares. The stock had previously closed at $27.24.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ASTS shares. Scotiabank decreased their price target on shares of AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating on the stock in a research note on Friday, January 24th. UBS Group increased their price objective on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Cantor Fitzgerald upgraded AST SpaceMobile to a “strong-buy” rating in a report on Tuesday. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $40.04.

AST SpaceMobile Trading Up 3.9 %

The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The company’s 50-day moving average is $24.21 and its 200-day moving average is $25.47. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of -12.79 and a beta of 1.62.

Institutional Trading of AST SpaceMobile

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fairfield Financial Advisors LTD acquired a new position in AST SpaceMobile in the third quarter valued at approximately $26,000. Hollencrest Capital Management acquired a new position in shares of AST SpaceMobile in the 3rd quarter valued at $26,000. Summit Securities Group LLC purchased a new position in shares of AST SpaceMobile during the 4th quarter worth $37,000. Bernard Wealth Management Corp. acquired a new stake in shares of AST SpaceMobile during the 4th quarter worth about $42,000. Finally, Golden State Wealth Management LLC purchased a new stake in AST SpaceMobile in the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

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.