AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 0.3% – Time to Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS) rose 0.3% on Friday . The company traded as high as $30.75 and last traded at $30.13. Approximately 3,903,906 shares traded hands during trading, a decline of 66% from the average daily volume of 11,322,771 shares. The stock had previously closed at $30.05.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Scotiabank cut their price objective 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. UBS Group raised their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Cantor Fitzgerald assumed coverage on AST SpaceMobile in a report on Thursday, February 6th. They issued an “overweight” rating and a $30.00 target price on the stock. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $40.04.

AST SpaceMobile Price Performance

The company has a 50-day moving average price of $23.20 and a two-hundred day moving average price of $24.88. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of AST SpaceMobile by 49.4% in the 4th quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company’s stock worth $316,233,000 after acquiring an additional 4,955,941 shares in the last quarter. Geode Capital Management LLC raised its position in shares of AST SpaceMobile by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 3,496,825 shares of the company’s stock worth $73,801,000 after acquiring an additional 229,759 shares in the last quarter. State Street Corp increased its position in AST SpaceMobile by 14.8% in the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company’s stock valued at $80,845,000 after buying an additional 399,713 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in AST SpaceMobile in the 4th quarter valued at about $59,523,000. Finally, Charles Schwab Investment Management Inc. increased its position in AST SpaceMobile by 11.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company’s stock valued at $26,728,000 after buying an additional 135,008 shares in the last quarter. 60.95% of the stock is 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.