AST SpaceMobile (NASDAQ:ASTS) Trading Up 4.3% – Should You Buy?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) traded up 4.3% during mid-day trading on Friday . The company traded as high as $27.56 and last traded at $27.21. 3,896,002 shares traded hands during trading, a decline of 67% from the average session volume of 11,689,572 shares. The stock had previously closed at $26.08.

Wall Street Analyst Weigh In

Several brokerages recently commented on ASTS. Cantor Fitzgerald raised shares of AST SpaceMobile to a “strong-buy” rating in a research note on Tuesday, February 25th. UBS Group upped their price target on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Scotiabank cut their price objective 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. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $40.04.

AST SpaceMobile Stock Performance

The company’s 50-day simple moving average is $24.21 and its 200-day simple moving average is $25.50. The stock has a market capitalization of $7.85 billion, a price-to-earnings ratio of -12.79 and a beta of 1.62. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

Institutional Trading of AST SpaceMobile

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hollencrest Capital Management acquired a new position in AST SpaceMobile during the 3rd quarter worth about $26,000. Summit Securities Group LLC bought a new position in shares of AST SpaceMobile during the fourth quarter worth about $37,000. Bernard Wealth Management Corp. acquired a new position in shares of AST SpaceMobile in the fourth quarter worth approximately $42,000. Golden State Wealth Management LLC bought a new stake in AST SpaceMobile in the fourth quarter valued at approximately $46,000. Finally, CIBC Private Wealth Group LLC increased its position in AST SpaceMobile by 106.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock valued at $53,000 after purchasing an additional 1,222 shares during the period. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.