AST SpaceMobile, Inc. (NASDAQ:ASTS) Given Average Rating of “Moderate Buy” by Brokerages

AST SpaceMobile, Inc. (NASDAQ:ASTS) has been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $42.82.

Several equities analysts have weighed in on the company. Scotiabank reaffirmed an “outperform” rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th. Oppenheimer initiated coverage on shares of AST SpaceMobile in a research note on Monday, May 5th. They issued a “market perform” rating on the stock. UBS Group increased their target price on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Roth Capital began coverage on shares of AST SpaceMobile in a report on Thursday, April 10th. They set a “buy” rating and a $42.00 price target on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price objective on shares of AST SpaceMobile in a report on Tuesday, March 4th.

Insider Activity at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $30.73, for a total value of $614,600.00. Following the transaction, the director now directly owns 52,628 shares of the company’s stock, valued at approximately $1,617,258.44. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 41.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On AST SpaceMobile

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASTS. Sunbelt Securities Inc. boosted its holdings in shares of AST SpaceMobile by 61.9% during the 1st quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company’s stock worth $30,000 after buying an additional 505 shares during the period. GAMMA Investing LLC lifted its position in AST SpaceMobile by 388.7% during the 1st quarter. GAMMA Investing LLC now owns 1,559 shares of the company’s stock worth $35,000 after acquiring an additional 1,240 shares during the last quarter. Summit Securities Group LLC bought a new stake in AST SpaceMobile during the fourth quarter valued at about $37,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of AST SpaceMobile in the first quarter valued at about $41,000. Finally, Close Asset Management Ltd increased its stake in shares of AST SpaceMobile by 72.4% in the first quarter. Close Asset Management Ltd now owns 1,810 shares of the company’s stock worth $41,000 after purchasing an additional 760 shares during the period. Institutional investors and hedge funds own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

Shares of ASTS stock opened at $25.76 on Monday. The company has a market capitalization of $8.15 billion, a price-to-earnings ratio of -12.15 and a beta of 2.05. AST SpaceMobile has a 1-year low of $2.12 and a 1-year high of $39.08. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The stock’s fifty day simple moving average is $24.88 and its 200-day simple moving average is $24.49.

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.