AST SpaceMobile (NASDAQ:ASTS) Shares Up 15.1% – Still a Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price traded up 15.1% on Friday . The stock traded as high as $20.76 and last traded at $20.97. 4,563,163 shares were traded during trading, a decline of 47% from the average session volume of 8,635,115 shares. The stock had previously closed at $18.21.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ASTS shares. UBS Group increased their price objective on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Scotiabank decreased their price target on AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating on the stock in a report on Friday, January 24th.

AST SpaceMobile Price Performance

The stock has a market cap of $6.15 billion, a PE ratio of -9.95 and a beta of 1.64. The firm’s fifty day moving average price is $22.53 and its 200 day moving average price is $23.91. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D increased its holdings in shares of AST SpaceMobile by 36.8% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 80,305 shares of the company’s stock worth $1,694,000 after purchasing an additional 21,585 shares during the last quarter. Americana Partners LLC increased its stake in AST SpaceMobile by 5.2% in the 4th quarter. Americana Partners LLC now owns 27,047 shares of the company’s stock worth $571,000 after acquiring an additional 1,326 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of AST SpaceMobile by 2.0% during the 4th quarter. Rhumbline Advisers now owns 216,718 shares of the company’s stock worth $4,573,000 after acquiring an additional 4,168 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of AST SpaceMobile by 150.1% during the 4th quarter. Van ECK Associates Corp now owns 258,747 shares of the company’s stock valued at $5,460,000 after acquiring an additional 155,310 shares during the last quarter. Finally, Kingsview Wealth Management LLC grew its holdings in shares of AST SpaceMobile by 23.3% in the fourth quarter. Kingsview Wealth Management LLC now owns 27,633 shares of the company’s stock valued at $583,000 after purchasing an additional 5,223 shares in the last quarter. Institutional investors 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.