AST SpaceMobile (NASDAQ:ASTS) Trading Up 1.1% – Should You Buy?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) were up 1.1% on Wednesday . The stock traded as high as $29.20 and last traded at $28.86. Approximately 2,191,847 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 11,975,451 shares. The stock had previously closed at $28.55.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Scotiabank reiterated an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Finally, UBS Group boosted their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AST SpaceMobile has an average rating of “Buy” and an average target price of $42.98.

AST SpaceMobile Price Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The company has a market capitalization of $8.82 billion, a price-to-earnings ratio of -13.18 and a beta of 1.62. The company has a 50-day moving average price of $26.17 and a 200-day moving average price of $25.15.

Insider Buying and Selling

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $30.73, for a total value of $614,600.00. Following the completion of the sale, the director now directly owns 52,628 shares in the company, valued at $1,617,258.44. This represents a 27.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 41.80% of the stock is currently owned by company insiders.

Institutional Trading of AST SpaceMobile

Several hedge funds have recently bought and sold shares of ASTS. California State Teachers Retirement System raised its holdings in shares of AST SpaceMobile by 15.2% during the fourth quarter. California State Teachers Retirement System now owns 147,430 shares of the company’s stock worth $3,111,000 after acquiring an additional 19,471 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in shares of AST SpaceMobile in the fourth quarter valued at about $217,000. Bernard Wealth Management Corp. acquired a new position in shares of AST SpaceMobile during the fourth quarter worth about $42,000. First Heartland Consultants Inc. grew its holdings in shares of AST SpaceMobile by 42.3% during the fourth quarter. First Heartland Consultants Inc. now owns 14,499 shares of the company’s stock worth $306,000 after buying an additional 4,311 shares in the last quarter. Finally, PharVision Advisers LLC acquired a new stake in AST SpaceMobile in the 4th quarter valued at approximately $541,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

About AST SpaceMobile

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.