AST SpaceMobile (NASDAQ:ASTS) Shares Up 0.2% – Should You Buy?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) shot up 0.2% on Tuesday . The stock traded as high as $22.85 and last traded at $22.79. 2,716,036 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 12,044,361 shares. The stock had previously closed at $22.74.

Analyst Ratings Changes

Several brokerages recently commented on ASTS. Scotiabank reaffirmed an “outperform” rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $30.00 target price on shares of AST SpaceMobile in a report on Tuesday, March 4th. 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 research note on Wednesday, March 5th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, AST SpaceMobile presently has an average rating of “Buy” and an average price target of $42.98.

AST SpaceMobile Price Performance

The stock has a market capitalization of $6.89 billion, a P/E ratio of -10.28 and a beta of 1.62. 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 company has a fifty day simple moving average of $26.49 and a two-hundred day simple moving average of $25.10.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $30.73, for a total transaction of $614,600.00. Following the completion of the sale, the director now owns 52,628 shares in the company, valued at approximately $1,617,258.44. The trade was a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 41.80% of the company’s stock.

Institutional Investors Weigh In On AST SpaceMobile

A number of institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its stake in shares of AST SpaceMobile by 228.9% in 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 acquiring an additional 787,566 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in AST SpaceMobile by 60.9% during the third quarter. The Manufacturers Life Insurance Company now owns 82,400 shares of the company’s stock valued at $2,155,000 after purchasing an additional 31,191 shares during the period. FMR LLC raised its holdings in AST SpaceMobile by 230.5% in the third quarter. FMR LLC now owns 39,638 shares of the company’s stock worth $1,037,000 after purchasing an additional 27,644 shares during the period. MetLife Investment Management LLC boosted its position in shares of AST SpaceMobile by 12.4% during the third quarter. MetLife Investment Management LLC now owns 76,302 shares of the company’s stock worth $1,995,000 after purchasing an additional 8,441 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of AST SpaceMobile in the 3rd quarter valued at $626,000. 60.95% of the stock is 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.