AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 6.6% – Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares were up 6.6% during mid-day trading on Friday . The company traded as high as $23.12 and last traded at $23.06. Approximately 2,011,088 shares were traded during trading, a decline of 33% from the average daily volume of 2,979,404 shares. The stock had previously closed at $21.64.

Wall Street Analysts Forecast Growth

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

AST SpaceMobile Price Performance

The business’s 50 day moving average price is $23.90 and its 200-day moving average price is $22.55. 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 company has a market cap of $6.86 billion, a PE ratio of -11.17 and a beta of 1.60.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, CTO Huiwen Yao sold 45,000 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $24.26, for a total transaction of $1,091,700.00. Following the completion of the transaction, the chief technology officer now directly owns 55,000 shares of the company’s stock, valued at $1,334,300. This trade represents a 45.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 41.80% of the stock is currently owned by corporate insiders.

Institutional Trading of AST SpaceMobile

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Privium Fund Management B.V. bought a new stake in shares of AST SpaceMobile in the 3rd quarter valued at approximately $21,476,000. Oppenheimer & Co. Inc. acquired a new position in AST SpaceMobile in the second quarter valued at approximately $9,270,000. Charles Schwab Investment Management Inc. raised its position in shares of AST SpaceMobile by 228.9% during the 3rd 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 bought a new stake in shares of AST SpaceMobile in the 2nd quarter worth approximately $4,757,000. Finally, State Street Corp boosted its position in AST SpaceMobile by 14.8% during the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company’s stock valued at $80,845,000 after purchasing an additional 399,713 shares during the period. 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.