AST SpaceMobile, Inc. (NASDAQ:ASTS) Given Average Rating of “Buy” by Analysts

AST SpaceMobile, Inc. (NASDAQ:ASTS) has earned an average rating of “Buy” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 1-year price objective among brokers that have covered the stock in the last year is $42.82.

Several research firms recently issued reports on ASTS. UBS Group boosted their target price on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Scotiabank reissued an “outperform” rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Roth Capital assumed coverage on AST SpaceMobile in a research note on Thursday, April 10th. They issued a “buy” rating and a $42.00 price target for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price target on shares of AST SpaceMobile in a research report on Tuesday, March 4th.

AST SpaceMobile Trading Up 14.8 %

NASDAQ:ASTS opened at $26.42 on Monday. The company has a market capitalization of $8.36 billion, a P/E ratio of -12.46 and a beta of 1.81. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile has a 12 month low of $2.12 and a 12 month high of $39.08. The firm has a fifty day simple moving average of $25.05 and a 200-day simple moving average of $24.54.

Insider Activity

In other news, Director Julio A. Torres sold 20,000 shares of AST SpaceMobile stock in a transaction that occurred 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 directly owns 52,628 shares in the company, valued at approximately $1,617,258.44. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 41.80% of the company’s stock.

Hedge Funds Weigh In On AST SpaceMobile

A number of institutional investors have recently modified their holdings of the company. Sunbelt Securities Inc. increased its stake in AST SpaceMobile by 61.9% in the first quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company’s stock valued at $30,000 after purchasing an additional 505 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of AST SpaceMobile by 388.7% in the first quarter. GAMMA Investing LLC now owns 1,559 shares of the company’s stock worth $35,000 after acquiring an additional 1,240 shares during the last quarter. Summit Securities Group LLC purchased a new stake in AST SpaceMobile in the fourth quarter valued at approximately $37,000. Financial Gravity Asset Management Inc. acquired a new position in AST SpaceMobile during the first quarter worth approximately $41,000. Finally, Bernard Wealth Management Corp. purchased a new position in AST SpaceMobile during the fourth quarter worth approximately $42,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

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.