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

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

Analyst Upgrades and Downgrades

ASTS has been the topic of a number of recent research reports. UBS Group lifted their price target on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Cantor Fitzgerald raised shares of AST SpaceMobile to a “strong-buy” rating in a research report on Tuesday. Finally, Scotiabank lowered their price target on AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating for the company in a report on Friday, January 24th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $40.04.

AST SpaceMobile Stock Down 4.3 %

The firm has a market capitalization of $7.56 billion, a PE ratio of -12.30 and a beta of 1.62. 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 firm’s 50 day moving average price is $24.07 and its two-hundred day moving average price is $25.41.

Institutional Trading of AST SpaceMobile

Several large investors have recently modified their holdings of ASTS. Hollencrest Capital Management acquired a new position in shares of AST SpaceMobile in the 3rd quarter valued at approximately $26,000. Fairfield Financial Advisors LTD bought a new stake in shares of AST SpaceMobile in the third quarter worth $26,000. Summit Securities Group LLC acquired a new stake in AST SpaceMobile in the fourth quarter valued at $37,000. Bernard Wealth Management Corp. bought a new position in AST SpaceMobile during the 4th quarter valued at $42,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of AST SpaceMobile in the 4th quarter worth about $46,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.