AST SpaceMobile (NASDAQ:ASTS) Trading 9.3% Higher – Still a Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares traded up 9.3% during trading on Thursday . The stock traded as high as $26.88 and last traded at $27.02. 3,000,705 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 9,747,061 shares. The stock had previously closed at $24.71.

Wall Street Analyst Weigh In

Several research firms have issued reports on ASTS. Scotiabank decreased their price objective on shares of AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating on the stock in a report on Friday, January 24th. 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. Finally, Cantor Fitzgerald started coverage on shares of AST SpaceMobile in a research note on Thursday. They set an “overweight” rating and a $30.00 target price on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $40.04.

AST SpaceMobile Trading Up 9.0 %

The business’s 50-day simple moving average is $22.42 and its two-hundred day simple moving average is $24.25. 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 market capitalization of $7.81 billion, a price-to-earnings ratio of -12.62 and a beta of 1.62.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Amalgamated Bank boosted its holdings in AST SpaceMobile by 17.4% during the 3rd quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock valued at $120,000 after acquiring an additional 679 shares during the period. Fairfield Financial Advisors LTD purchased a new position in shares of AST SpaceMobile in the third quarter valued at approximately $26,000. Hollencrest Capital Management acquired a new position in shares of AST SpaceMobile in the third quarter valued at approximately $26,000. Americana Partners LLC increased its stake in AST SpaceMobile by 5.2% during the 4th quarter. Americana Partners LLC now owns 27,047 shares of the company’s stock worth $571,000 after buying an additional 1,326 shares during the period. Finally, Colonial River Investments LLC lifted its holdings in AST SpaceMobile by 17.3% during the 4th quarter. Colonial River Investments LLC now owns 10,618 shares of the company’s stock worth $224,000 after buying an additional 1,564 shares in the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

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.