AST SpaceMobile (NASDAQ:ASTS) Now Covered by Roth Capital

Roth Capital started coverage on shares of AST SpaceMobile (NASDAQ:ASTS) in a research note published on Thursday, Marketbeat.com reports. The firm issued a buy rating and a $42.00 price target on the stock.

A number of other analysts have also recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price objective on shares of AST SpaceMobile in a research report on Tuesday, March 4th. UBS Group raised their price target on AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Finally, Scotiabank reiterated an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $42.82.

AST SpaceMobile Trading Up 0.6 %

Shares of NASDAQ:ASTS opened at $23.28 on Thursday. AST SpaceMobile has a 52-week low of $1.99 and a 52-week high of $39.08. 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 company has a market capitalization of $7.37 billion, a P/E ratio of -10.98 and a beta of 1.81. The company has a 50-day simple moving average of $26.82 and a 200 day simple moving average of $24.71.

Insider Activity at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $30.73, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 41.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Summit Securities Group LLC acquired a new stake in shares of AST SpaceMobile in the fourth quarter valued at approximately $37,000. Bernard Wealth Management Corp. bought a new position in AST SpaceMobile during the 4th quarter worth $42,000. Golden State Wealth Management LLC bought a new position in AST SpaceMobile during the 4th quarter worth $46,000. CIBC Private Wealth Group LLC raised its holdings in AST SpaceMobile by 106.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock valued at $53,000 after acquiring an additional 1,222 shares in the last quarter. Finally, AlphaQuest LLC bought a new stake in shares of AST SpaceMobile during the 4th quarter valued at $67,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

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.