AST SpaceMobile (NASDAQ:ASTS) Shares Up 9.3% – Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares were up 9.3% during trading on Thursday . The stock traded as high as $26.88 and last traded at $27.02. Approximately 3,000,705 shares changed hands during trading, a decline of 69% from the average daily volume of 9,747,061 shares. The stock had previously closed at $24.71.

Analysts Set New Price Targets

A number of research firms recently weighed in on ASTS. Cantor Fitzgerald initiated coverage on shares of AST SpaceMobile in a research report on Thursday. They issued an “overweight” rating and a $30.00 target price for the company. UBS Group raised their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Scotiabank dropped their target price 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. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $40.04.

AST SpaceMobile Trading Down 2.2 %

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 firm’s 50 day moving average price is $22.55 and its two-hundred day moving average price is $24.36.

Hedge Funds Weigh In On AST SpaceMobile

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Amalgamated Bank lifted its position in shares of AST SpaceMobile by 17.4% in the third quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock valued at $120,000 after buying an additional 679 shares during the last quarter. Fairfield Financial Advisors LTD bought a new position in AST SpaceMobile during the third quarter worth $26,000. Hollencrest Capital Management acquired a new position in shares of AST SpaceMobile in the third quarter valued at $26,000. Americana Partners LLC raised its position in shares of AST SpaceMobile by 5.2% in the fourth quarter. Americana Partners LLC now owns 27,047 shares of the company’s stock valued at $571,000 after purchasing an additional 1,326 shares during the period. Finally, Colonial River Investments LLC lifted its stake in shares of AST SpaceMobile by 17.3% during the 4th quarter. Colonial River Investments LLC now owns 10,618 shares of the company’s stock worth $224,000 after buying an additional 1,564 shares during 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.