AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 10.8% – Time to Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS) traded up 10.8% on Tuesday . The stock traded as high as $22.45 and last traded at $23.02. 2,654,041 shares traded hands during trading, a decline of 49% from the average session volume of 5,198,360 shares. The stock had previously closed at $20.78.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ASTS shares. Scotiabank reduced their target price on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a report on Friday, November 15th. UBS Group increased their price target on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th.

AST SpaceMobile Stock Performance

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 firm has a 50-day moving average of $23.23 and a 200 day moving average of $23.70. The stock has a market capitalization of $5.74 billion, a P/E ratio of -9.34 and a beta of 1.64.

Institutional Investors Weigh In On AST SpaceMobile

Large investors have recently modified their holdings of the business. Privium Fund Management B.V. bought a new stake in shares of AST SpaceMobile in the third quarter worth $21,476,000. Charles Schwab Investment Management Inc. boosted its position in AST SpaceMobile by 228.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock worth $29,594,000 after purchasing an additional 787,566 shares during the period. Renaissance Technologies LLC acquired a new position in AST SpaceMobile in the 2nd quarter valued at $4,757,000. State Street Corp raised its position in shares of AST SpaceMobile by 14.8% in the third 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. Finally, Geode Capital Management LLC raised its stake in AST SpaceMobile by 9.4% in the third quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company’s stock valued at $85,450,000 after purchasing an additional 281,749 shares in the last quarter. 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.