AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 0.3% - Time to Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS) experienced a modest rise of 0.3% in its stock price on Friday. The shares reached a high of $30.75 before settling at $30.13. During the trading session, around 3,903,906 shares changed hands, which represents a significant decrease of 66% compared to the average daily trading volume of 11,322,771 shares. The stock had closed the previous day at $30.05.

Analyst Ratings Changes

Recent comments from several equity research analysts provide insights into the stock's performance. Scotiabank lowered its price target for AST SpaceMobile from $44.70 to $40.20 while maintaining a "sector outperform" rating. This adjustment was made in a research report published on January 24th. Meanwhile, UBS Group elevated its target price from $30.00 to $31.00 and rated the stock as a "buy" in a report dated November 15th. Cantor Fitzgerald also began coverage on AST SpaceMobile, giving it an "overweight" rating with a target price of $30.00. Currently, five analysts have assigned a buy rating, and according to MarketBeat.com, the stock holds an average rating of "Buy" with an average target price of $40.04.

AST SpaceMobile Price Performance

The company's stock has a 50-day moving average price of $23.20 and a 200-day moving average of $24.88. In terms of financial health, AST SpaceMobile has a debt-to-equity ratio of 0.31, and both the current and quick ratios stand at 5.80, indicating strong liquidity.

Institutional Inflows and Outflows

Recent movements by institutional investors reflect growing interest in AST SpaceMobile. Vanguard Group Inc. increased its shares in the company by 49.4% during the fourth quarter, now holding 14,987,351 shares worth approximately $316,233,000 after acquiring an additional 4,955,941 shares. Geode Capital Management LLC also raised its stake by 7.0%, owning 3,496,825 shares valued at $73,801,000. Furthermore, State Street Corp boosted its holdings by 14.8%, bringing its total to 3,091,577 shares valued at around $80,845,000. Other notable increases include T. Rowe Price Investment Management's new stake valued at approximately $59,523,000 and Charles Schwab Investment Management, which increased its holdings by 11.9%. Currently, institutional investors own about 60.95% of the stock.

About AST SpaceMobile

AST SpaceMobile, Inc., along with its subsidiaries, is dedicated to developing and providing access to a space-based cellular broadband network specifically for smartphones across the United States. Their SpaceMobile service aims to offer cellular broadband services for users located outside of terrestrial cellular coverage. The company was established in 2017 and is headquartered in Midland, Texas.

Investment Considerations

As potential investors consider their options, it is essential to evaluate whether AST SpaceMobile represents a fitting addition to their portfolio. Despite its current "Buy" rating from analysts, other stocks may warrant attention based on recent recommendations from top analysts. Investors should research thoroughly before making any decisions.

ASTS, Stocks, Investment