AST SpaceMobile (NASDAQ:ASTS) Trading Up 3.4% – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price was up 3.4% during trading on Monday . The stock traded as high as $25.18 and last traded at $24.79. Approximately 3,375,878 shares were traded during trading, a decline of 36% from the average daily volume of 5,276,686 shares. The stock had previously closed at $23.97.

Analysts Set New Price Targets

ASTS has been the topic of a number of analyst reports. UBS Group upped their price target on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Scotiabank reduced their target price on shares of AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a research note on Friday, November 15th.

AST SpaceMobile Price Performance

The stock has a fifty day moving average of $23.68 and a two-hundred day moving average of $22.97. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $6.52 billion, a price-to-earnings ratio of -10.62 and a beta of 1.64.

Institutional Investors Weigh In On AST SpaceMobile

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fairfield Financial Advisors LTD acquired a new position in shares of AST SpaceMobile during the third quarter worth approximately $26,000. Hollencrest Capital Management bought a new position in AST SpaceMobile in the 3rd quarter worth approximately $26,000. Rakuten Securities Inc. acquired a new position in AST SpaceMobile during the 3rd quarter worth $68,000. Sunbelt Securities Inc. boosted its position in AST SpaceMobile by 3,380.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock valued at $91,000 after buying an additional 3,380 shares during the last quarter. Finally, KBC Group NV acquired a new stake in shares of AST SpaceMobile in the 3rd quarter valued at $104,000. 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.