AST SpaceMobile (NASDAQ:ASTS) Shares Up 10.8% – Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTSGet Free Report)’s stock price was up 10.8% during trading on Tuesday . The company traded as high as $22.45 and last traded at $23.02. Approximately 2,654,041 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 5,198,360 shares. The stock had previously closed at $20.78.

Analyst Ratings Changes

ASTS has been the topic of several recent analyst reports. Scotiabank reduced their price objective on shares of AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a research note on Friday, November 15th. UBS Group raised their price target on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, November 15th.

Read Our Latest Analysis on AST SpaceMobile

AST SpaceMobile Stock Up 9.4 %

The stock has a market capitalization of $6.59 billion, a P/E ratio of -10.68 and a beta of 1.64. 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 business has a 50-day simple moving average of $23.36 and a two-hundred day simple moving average of $23.63.

Institutional Trading of AST SpaceMobile

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Amalgamated Bank raised its position in shares of AST SpaceMobile by 17.4% during the third quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock worth $120,000 after purchasing an additional 679 shares during the period. Victory Capital Management Inc. grew its position in shares of AST SpaceMobile by 5.5% in the 2nd quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock valued at $180,000 after acquiring an additional 814 shares during the period. Fairfield Financial Advisors LTD acquired a new stake in shares of AST SpaceMobile in the third quarter valued at approximately $26,000. Hollencrest Capital Management bought a new stake in shares of AST SpaceMobile during the 3rd quarter worth about $26,000. Finally, Calton & Associates Inc. grew its position in shares of AST SpaceMobile by 14.5% in the third quarter. Calton & Associates Inc. now owns 12,600 shares of the company’s stock valued at $329,000 after purchasing an additional 1,600 shares during the last quarter. 60.95% of the stock is owned by institutional investors.

About AST SpaceMobile

(Get Free Report)

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.

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