Brokerages Set AST SpaceMobile, Inc. (NASDAQ:ASTS) PT at $42.82

AST SpaceMobile, Inc. (NASDAQ:ASTS) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $42.82.

ASTS has been the topic of several research reports. Oppenheimer assumed coverage on shares of AST SpaceMobile in a report on Monday, May 5th. They set a “market perform” rating on the stock. UBS Group boosted their price target on AST SpaceMobile from $31.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Scotiabank reiterated an “outperform” rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. Roth Capital initiated coverage on AST SpaceMobile in a research report on Thursday, April 10th. They set a “buy” rating and a $42.00 price objective on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 target price on shares of AST SpaceMobile in a research note on Tuesday, March 4th.

AST SpaceMobile Trading Up 2.0 %

Shares of ASTS stock opened at $25.76 on Monday. The firm has a market capitalization of $8.15 billion, a P/E 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 firm’s fifty day simple moving average is $24.88 and its 200 day simple moving average is $24.49. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

Insider Transactions at AST SpaceMobile

In related news, Director Julio A. Torres sold 20,000 shares of the business’s stock in a transaction 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 sale, the director now owns 52,628 shares of the company’s stock, valued at $1,617,258.44. The trade was a 27.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 41.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ASTS. Sunbelt Securities Inc. increased its position 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 purchasing an additional 505 shares in the last quarter. GAMMA Investing LLC grew its stake in AST SpaceMobile by 388.7% during the first quarter. GAMMA Investing LLC now owns 1,559 shares of the company’s stock worth $35,000 after buying an additional 1,240 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of AST SpaceMobile during the fourth quarter worth approximately $37,000. Financial Gravity Asset Management Inc. acquired a new stake in shares of AST SpaceMobile during the first quarter worth approximately $41,000. Finally, Close Asset Management Ltd raised 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 valued at $41,000 after acquiring an additional 760 shares during the last quarter. 60.95% of the stock is owned by institutional investors.

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.