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

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price was up 3.4% during mid-day trading on Monday . The company 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.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ASTS shares. Scotiabank decreased their price target on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a research note on Friday, November 15th. UBS Group raised their price target on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th.

AST SpaceMobile Stock Up 0.9 %

The firm has a market capitalization of $7.01 billion, a price-to-earnings ratio of -11.41 and a beta of 1.60. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The firm has a 50 day moving average price of $23.87 and a two-hundred day moving average price of $22.79.

Insider Activity

In other news, CTO Huiwen Yao sold 45,000 shares of AST SpaceMobile stock in a transaction dated 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 transaction, the chief technology officer now directly owns 55,000 shares of the company’s stock, valued at $1,334,300. The trade was a 45.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 41.80% of the company’s stock.

Hedge Funds Weigh In On AST SpaceMobile

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in AST SpaceMobile by 9.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company’s stock worth $85,450,000 after acquiring an additional 281,749 shares in the last quarter. State Street Corp lifted its position in 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 acquiring an additional 399,713 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in AST SpaceMobile by 228.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock worth $29,594,000 after acquiring an additional 787,566 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in AST SpaceMobile by 6.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company’s stock worth $22,125,000 after acquiring an additional 47,600 shares in the last quarter. Finally, Privium Fund Management B.V. acquired a new position in AST SpaceMobile during the 3rd quarter worth approximately $21,476,000. 60.95% of the stock is 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.