AST SpaceMobile (NASDAQ:ASTS) Trading Up 0.8% – Should You Buy?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) were up 0.8% on Tuesday . The stock traded as high as $33.55 and last traded at $32.37. Approximately 6,804,294 shares changed hands during trading, a decline of 41% from the average daily volume of 11,523,183 shares. The stock had previously closed at $32.10.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. UBS Group upped their target price on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Scotiabank dropped their target price on AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating on the stock in a report on Friday, January 24th. Finally, Cantor Fitzgerald assumed coverage on AST SpaceMobile in a report on Thursday, February 6th. They set an “overweight” rating and a $30.00 target price on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, AST SpaceMobile has an average rating of “Buy” and a consensus target price of $40.04.

AST SpaceMobile Stock Down 3.7 %

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 has a 50 day simple moving average of $23.45 and a 200-day simple moving average of $25.08. The stock has a market cap of $8.95 billion, a P/E ratio of -14.58 and a beta of 1.62.

Institutional Trading of AST SpaceMobile

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its stake in AST SpaceMobile by 235.9% in the third quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company’s stock valued at $6,479,000 after buying an additional 174,007 shares during the period. Van ECK Associates Corp raised its stake in AST SpaceMobile by 141.1% in the third quarter. Van ECK Associates Corp now owns 103,437 shares of the company’s stock valued at $2,716,000 after buying an additional 60,530 shares during the period. Algert Global LLC bought a new stake in AST SpaceMobile in the third quarter valued at approximately $768,000. Americana Partners LLC bought a new stake in AST SpaceMobile in the third quarter valued at approximately $673,000. Finally, Oppenheimer & Co. Inc. increased its stake in shares of AST SpaceMobile by 6.0% during the third quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company’s stock worth $22,125,000 after purchasing an additional 47,600 shares during the period. 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.