AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 2.3% – Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTSGet Free Report) shares rose 2.3% during mid-day trading on Tuesday . The stock traded as high as $86.29 and last traded at $85.82. Approximately 7,515,337 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 16,041,813 shares. The stock had previously closed at $83.90.

Key Headlines Impacting AST SpaceMobile

Here are the key news stories impacting AST SpaceMobile this week:

Wall Street Analysts Forecast Growth

ASTS has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Monday, December 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of AST SpaceMobile in a research report on Tuesday, January 20th. Zacks Research lowered shares of AST SpaceMobile from a “hold” rating to a “strong sell” rating in a research note on Friday, January 9th. Scotiabank lowered shares of AST SpaceMobile from a “sector perform” rating to a “sector underperform” rating and set a $45.60 target price on the stock. in a report on Wednesday, January 7th. Finally, B. Riley Financial dropped their price target on shares of AST SpaceMobile from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, February 13th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $52.94.

Get Our Latest Report on ASTS

AST SpaceMobile Trading Up 4.1%

The firm has a market capitalization of $31.48 billion, a price-to-earnings ratio of -69.16 and a beta of 2.70. The company has a debt-to-equity ratio of 0.43, a quick ratio of 9.48 and a current ratio of 9.56. The company has a 50-day moving average price of $93.62 and a 200-day moving average price of $72.15.

Insider Transactions at AST SpaceMobile

In related news, COO Shanti B. Gupta sold 10,000 shares of AST SpaceMobile stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $77.34, for a total transaction of $773,400.00. Following the sale, the chief operating officer directly owned 382,375 shares in the company, valued at $29,572,882.50. This trade represents a 2.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith R. Larson purchased 715 shares of AST SpaceMobile stock in a transaction that occurred on Wednesday, December 17th. The stock was bought at an average cost of $70.02 per share, with a total value of $50,064.30. Following the completion of the transaction, the director owned 1,390 shares of the company’s stock, valued at $97,327.80. The trade was a 105.93% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 2,015 shares of company stock valued at $149,144 and sold 2,344,621 shares valued at $163,788,075. 30.90% of the stock is owned by company insiders.

Institutional Trading of AST SpaceMobile

Hedge funds and other institutional investors have recently made changes to their positions in the company. REAP Financial Group LLC purchased a new position in shares of AST SpaceMobile during the third quarter worth approximately $25,000. Crewe Advisors LLC purchased a new stake in AST SpaceMobile during the 4th quarter valued at approximately $25,000. Laurel Wealth Advisors LLC acquired a new stake in AST SpaceMobile during the 4th quarter worth approximately $25,000. Atlantic Union Bankshares Corp purchased a new position in shares of AST SpaceMobile in the 2nd quarter valued at approximately $28,000. Finally, Byrne Asset Management LLC acquired a new position in shares of AST SpaceMobile in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

About AST SpaceMobile

(Get Free Report)

AST SpaceMobile is a U.S.-based aerospace company developing a space-based cellular broadband network designed to connect standard mobile phones and other devices directly to satellites. The company’s core proposition is “space-to-cell” service: operating a constellation of low-Earth-orbit (LEO) satellites equipped with large, high-power phased-array antennas to provide wide-area mobile broadband without requiring users to buy specialized terminals or handset modifications.

AST SpaceMobile designs, builds and operates satellite payloads and supporting ground infrastructure.

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