AST SpaceMobile, Inc. (NASDAQ:ASTS) Receives Consensus Recommendation of “Buy” from Brokerages

AST SpaceMobile, Inc. (NASDAQ:ASTS) has received a consensus rating of “Buy” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy rating. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $42.82.

A number of equities analysts recently commented on ASTS shares. Scotiabank reiterated an “outperform” rating on shares of AST SpaceMobile in a report on Wednesday, March 5th. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 target price on shares of AST SpaceMobile in a report on Tuesday, March 4th. Roth Capital initiated coverage on AST SpaceMobile in a report on Thursday, April 10th. They set a “buy” rating and a $42.00 price target for the company. Finally, UBS Group upped their price objective on shares of AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, March 5th.

Insider Activity at AST SpaceMobile

In other AST SpaceMobile news, Director Julio A. Torres sold 20,000 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $30.73, for a total value of $614,600.00. Following the completion of the transaction, the director now owns 52,628 shares in the company, valued at $1,617,258.44. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 41.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On AST SpaceMobile

A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of AST SpaceMobile by 235.9% in the third quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company’s stock worth $6,479,000 after buying an additional 174,007 shares during the period. Charles Schwab Investment Management Inc. grew its position in AST SpaceMobile by 11.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company’s stock worth $26,728,000 after acquiring an additional 135,008 shares during the last quarter. Handelsbanken Fonder AB purchased a new position in AST SpaceMobile in the 4th quarter worth approximately $755,000. Van ECK Associates Corp lifted its position in AST SpaceMobile by 150.1% in the fourth quarter. Van ECK Associates Corp now owns 258,747 shares of the company’s stock valued at $5,460,000 after purchasing an additional 155,310 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of AST SpaceMobile by 57.6% during the fourth quarter. Bank of New York Mellon Corp now owns 641,678 shares of the company’s stock valued at $13,539,000 after purchasing an additional 234,517 shares during the period. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

Shares of ASTS stock opened at $22.91 on Thursday. The stock has a market cap of $7.25 billion, a P/E ratio of -10.81 and a beta of 1.81. The company has a fifty day moving average price of $26.78 and a two-hundred day moving average price of $24.70. AST SpaceMobile has a one year low of $1.99 and a one year high of $39.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

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.