AST SpaceMobile (NASDAQ:ASTS) Trading 0.2% Higher – Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shot up 0.2% during mid-day trading on Tuesday . The company traded as high as $22.85 and last traded at $22.79. 2,716,036 shares were traded during trading, a decline of 77% from the average session volume of 12,044,361 shares. The stock had previously closed at $22.74.

Wall Street Analyst Weigh In

ASTS has been the topic of several analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 target price on shares of AST SpaceMobile in a report on Tuesday, March 4th. UBS Group upped their price objective on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Finally, Scotiabank reiterated an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $42.98.

AST SpaceMobile Stock Performance

The stock’s 50 day simple moving average is $26.46 and its two-hundred day simple moving average is $25.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The stock has a market cap of $7.09 billion, a P/E ratio of -10.57 and a beta of 1.62.

Insider Buying and Selling

In other news, Director Julio A. Torres sold 20,000 shares of the firm’s 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 completion of the transaction, the director now directly owns 52,628 shares of the company’s stock, valued at $1,617,258.44. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 41.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new stake in AST SpaceMobile in the 4th quarter valued at $37,000. Bernard Wealth Management Corp. bought a new position in shares of AST SpaceMobile in the 4th quarter valued at about $42,000. Golden State Wealth Management LLC acquired a new stake in shares of AST SpaceMobile in the fourth quarter valued at about $46,000. CIBC Private Wealth Group LLC raised its holdings in AST SpaceMobile by 106.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock worth $53,000 after acquiring an additional 1,222 shares in the last quarter. Finally, AlphaQuest LLC bought a new stake in AST SpaceMobile during the fourth quarter worth about $67,000. 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.