AST SpaceMobile, Inc. (NASDAQ:ASTS) Given Average Recommendation of “Buy” by Brokerages

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) have been given an average rating of “Buy” by the five research firms that are currently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $42.98.

A number of research analysts recently weighed in on the company. Scotiabank reaffirmed an “outperform” rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 price target on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Roth Capital started coverage on shares of AST SpaceMobile in a report on Thursday. They set a “buy” rating and a $42.00 price objective on the stock. Finally, UBS Group lifted their price objective on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, March 5th.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $30.73, for a total value of $614,600.00. Following the transaction, the director now owns 52,628 shares of the company’s stock, valued at approximately $1,617,258.44. The trade was a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 41.80% of the stock is owned by insiders.

Institutional Investors Weigh In On AST SpaceMobile

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in AST SpaceMobile by 49.4% during the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company’s stock valued at $316,233,000 after buying an additional 4,955,941 shares during the period. T. Rowe Price Investment Management Inc. bought a new position in shares of AST SpaceMobile during the 4th quarter valued at approximately $59,523,000. Key Colony Management LLC grew its position in shares of AST SpaceMobile by 204.1% during the 1st quarter. Key Colony Management LLC now owns 596,000 shares of the company’s stock valued at $13,553,000 after acquiring an additional 400,000 shares during the period. State Street Corp increased its stake in shares of AST SpaceMobile by 14.8% during the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company’s stock worth $80,845,000 after purchasing an additional 399,713 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in AST SpaceMobile by 9.4% in the third quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company’s stock valued at $85,450,000 after purchasing an additional 281,749 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors.

AST SpaceMobile Trading Down 3.7 %

Shares of AST SpaceMobile stock traded down $0.88 on Thursday, reaching $23.26. 6,178,538 shares of the company’s stock were exchanged, compared to its average volume of 12,234,807. The company has a market capitalization of $7.36 billion, a P/E ratio of -11.00 and a beta of 1.81. The firm’s 50-day moving average is $26.78 and its two-hundred day moving average is $24.74. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. AST SpaceMobile has a 52 week low of $1.99 and a 52 week high of $39.08.

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.