AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 3.4% – Time to Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price rose 3.4% during trading on Monday . The stock traded as high as $25.18 and last traded at $24.79. Approximately 3,375,878 shares traded hands during mid-day trading, a decline of 36% from the average daily volume of 5,276,686 shares. The stock had previously closed at $23.97.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ASTS shares. Scotiabank decreased their price target on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a report on Friday, November 15th. UBS Group increased their price target on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th.

AST SpaceMobile Price Performance

The company has a 50-day simple moving average of $23.87 and a 200-day simple moving average of $22.79. The stock has a market cap of $7.01 billion, a PE ratio of -11.41 and a beta of 1.60. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

Insiders Place Their Bets

In other news, CTO Huiwen Yao sold 45,000 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $24.26, for a total value of $1,091,700.00. Following the completion of the transaction, the chief technology officer now owns 55,000 shares in the company, valued at $1,334,300. This trade represents a 45.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 41.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Fairfield Financial Advisors LTD purchased a new position in shares of AST SpaceMobile in the third quarter valued at $26,000. Hollencrest Capital Management purchased a new stake in AST SpaceMobile during the 3rd quarter worth about $26,000. Rakuten Securities Inc. purchased a new stake in AST SpaceMobile during the 3rd quarter worth about $68,000. Sunbelt Securities Inc. increased its position in AST SpaceMobile by 3,380.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock worth $91,000 after purchasing an additional 3,380 shares in the last quarter. Finally, KBC Group NV purchased a new stake in AST SpaceMobile during the 3rd quarter worth about $104,000. Hedge funds and other institutional investors 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.