AST SpaceMobile (NASDAQ:ASTS) Shares Up 2.2% – Still a Buy?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) shot up 2.2% during trading on Wednesday . The company traded as high as $33.18 and last traded at $31.60. 4,784,423 shares were traded during trading, a decline of 58% from the average session volume of 11,491,966 shares. The stock had previously closed at $30.90.

Analysts Set New Price Targets

Several brokerages have commented on ASTS. UBS Group raised their target price on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Cantor Fitzgerald initiated coverage on AST SpaceMobile in a research note on Thursday, February 6th. They issued an “overweight” rating and a $30.00 target price on the stock. Finally, Scotiabank decreased their price target on shares of AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating on the stock in a research note on Friday, January 24th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, AST SpaceMobile presently has an average rating of “Buy” and a consensus price target of $40.04.

AST SpaceMobile Trading Up 5.7 %

The company has a market capitalization of $9.46 billion, a PE ratio of -15.47 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 stock’s fifty day moving average price is $23.45 and its two-hundred day moving average price is $25.08.

Hedge Funds Weigh In On AST SpaceMobile

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in AST SpaceMobile by 49.4% in the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company’s stock worth $316,233,000 after acquiring an additional 4,955,941 shares during the period. T. Rowe Price Investment Management Inc. bought a new position in AST SpaceMobile in the 4th quarter worth $59,523,000. Privium Fund Management B.V. purchased a new stake in shares of AST SpaceMobile in the 3rd quarter worth about $21,476,000. Charles Schwab Investment Management Inc. boosted its stake in shares of 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 valued at $29,594,000 after purchasing an additional 787,566 shares in the last quarter. Finally, State Street Corp increased its position in shares of AST SpaceMobile by 14.8% during the third quarter. State Street Corp now owns 3,091,577 shares of the company’s stock valued at $80,845,000 after buying an additional 399,713 shares during the period. 60.95% of the stock is owned by hedge funds and other institutional investors.

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.