AST SpaceMobile (NASDAQ:ASTS) Trading Up 3.2% – Still a Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shot up 3.2% during mid-day trading on Thursday . The company traded as high as $29.15 and last traded at $28.12. 4,465,556 shares traded hands during trading, a decline of 62% from the average session volume of 11,701,399 shares. The stock had previously closed at $27.24.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. UBS Group increased their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, November 15th. Cantor Fitzgerald raised shares of AST SpaceMobile to a “strong-buy” rating in a report on Tuesday. Finally, Scotiabank dropped their target price on shares of AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating on the stock in a research report on Friday, January 24th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AST SpaceMobile presently has a consensus rating of “Buy” and a consensus price target of $40.04.

AST SpaceMobile Stock Down 4.3 %

The company has a market cap of $7.56 billion, a PE ratio of -12.30 and a beta of 1.62. The firm has a 50-day simple moving average of $24.07 and a two-hundred day simple moving average of $25.41. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

Hedge Funds Weigh In On AST SpaceMobile

Institutional investors have recently modified their holdings of the company. Bernard Wealth Management Corp. purchased a new stake in AST SpaceMobile in the 4th quarter worth approximately $42,000. First Heartland Consultants Inc. boosted 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 purchasing an additional 4,311 shares during the last quarter. PharVision Advisers LLC acquired a new position in AST SpaceMobile in the fourth quarter valued at $541,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in AST SpaceMobile by 49.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 275,810 shares of the company’s stock worth $5,820,000 after buying an additional 91,536 shares during the period. Finally, Twinbeech Capital LP acquired a new stake in AST SpaceMobile in the 4th quarter worth about $4,684,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

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.