AST SpaceMobile, Inc. (NASDAQ:ASTS) Receives Average Recommendation of “Moderate Buy” from Analysts

AST SpaceMobile, Inc. (NASDAQ:ASTS) has been given an average rating of “Moderate Buy” by the seven brokerages that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $42.82.

A number of research analysts have issued reports on ASTS shares. UBS Group upped their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Oppenheimer started coverage on AST SpaceMobile in a research note on Monday, May 5th. They issued a “market perform” rating for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $30.00 price target on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Roth Capital started coverage on AST SpaceMobile in a research note on Thursday, April 10th. They set a “buy” rating and a $42.00 price target for the company. Finally, Scotiabank reiterated an “outperform” rating on shares of AST SpaceMobile in a research note on Wednesday, March 5th.

Insider Buying and Selling

In related news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $30.73, for a total transaction of $614,600.00. Following the sale, the director now owns 52,628 shares of the company’s stock, valued at approximately $1,617,258.44. This represents a 27.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 34.15% of the stock is currently owned by insiders.

Institutional Trading of AST SpaceMobile

A number of institutional investors have recently added to or reduced their stakes in ASTS. Sunbelt Securities Inc. lifted its holdings in 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 purchasing an additional 505 shares in the last quarter. GAMMA Investing LLC lifted its holdings 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 purchasing an additional 1,240 shares in the last quarter. Summit Securities Group LLC purchased a new stake in AST SpaceMobile during the 4th quarter worth about $37,000. Financial Gravity Asset Management Inc. purchased a new stake in AST SpaceMobile during the 1st quarter worth about $41,000. Finally, Close Asset Management Ltd lifted its holdings in AST SpaceMobile by 72.4% during the 1st quarter. Close Asset Management Ltd now owns 1,810 shares of the company’s stock worth $41,000 after purchasing an additional 760 shares in the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Up 2.0%

Shares of NASDAQ:ASTS opened at $25.76 on Monday. The company has a market capitalization of $8.15 billion, a PE ratio of -12.15 and a beta of 2.05. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The business has a fifty day moving average price of $24.88 and a two-hundred day moving average price of $24.48. AST SpaceMobile has a 1 year low of $2.12 and a 1 year high of $39.08.

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.