AST SpaceMobile (NASDAQ:ASTS) Shares Gap Up – Still a Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares gapped up prior to trading on Thursday . The stock had previously closed at $17.72, but opened at $18.52. AST SpaceMobile shares last traded at $18.57, with a volume of 2,148,366 shares trading hands.

Analysts Set New Price Targets

ASTS has been the subject of several research analyst reports. UBS Group upped their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Scotiabank decreased 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.

AST SpaceMobile Trading Up 3.8 %

The company has a 50-day simple moving average of $22.65 and a 200-day simple moving average of $23.95. 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 stock has a market cap of $5.33 billion, a P/E ratio of -8.69 and a beta of 1.64.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Fairfield Financial Advisors LTD bought a new stake in AST SpaceMobile in the third quarter valued at about $26,000. Hollencrest Capital Management acquired a new position in shares of AST SpaceMobile during the 3rd quarter worth about $26,000. Golden State Wealth Management LLC bought a new stake in shares of AST SpaceMobile in the 4th quarter valued at about $46,000. Rakuten Securities Inc. acquired a new stake in shares of AST SpaceMobile in the 3rd quarter valued at approximately $68,000. Finally, Sunbelt Securities Inc. raised its position in shares of AST SpaceMobile by 3,380.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock valued at $91,000 after acquiring an additional 3,380 shares during the period. 60.95% of the stock is currently owned by 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.