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

AST SpaceMobile, Inc. (NASDAQ:ASTS) has received a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $42.82.

Several brokerages have weighed in on ASTS. Scotiabank reissued an “outperform” rating on shares of AST SpaceMobile in a research report on Wednesday, March 5th. Oppenheimer initiated coverage on AST SpaceMobile in a report on Monday. They set a “market perform” rating for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $30.00 price target on shares of AST SpaceMobile in a report on Tuesday, March 4th. Roth Capital started coverage on shares of AST SpaceMobile in a research note on Thursday, April 10th. They issued a “buy” rating and a $42.00 price target for the company. Finally, 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.

Insiders Place Their Bets

In related news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $30.73, for a total value of $614,600.00. Following the completion of the sale, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 41.80% of the company’s stock.

Institutional Investors Weigh In On AST SpaceMobile

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sunbelt Securities Inc. grew its position in shares of AST SpaceMobile by 61.9% during the first quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company’s stock valued at $30,000 after purchasing an additional 505 shares in the last quarter. GAMMA Investing LLC raised its position in AST SpaceMobile by 388.7% in 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 during the period. Summit Securities Group LLC purchased a new position in shares of AST SpaceMobile during the fourth quarter valued at approximately $37,000. Financial Gravity Asset Management Inc. bought a new stake in shares of AST SpaceMobile during the 1st quarter worth approximately $41,000. Finally, Close Asset Management Ltd boosted 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 valued at $41,000 after acquiring an additional 760 shares during the period. 60.95% of the stock is owned by institutional investors.

AST SpaceMobile Stock Performance

Shares of NASDAQ ASTS opened at $25.29 on Monday. The stock’s 50-day moving average is $24.94 and its 200 day moving average is $24.52. The stock has a market cap of $8.00 billion, a price-to-earnings ratio of -11.93 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.

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.