AST SpaceMobile Sees Unusually Large Options Volume (NASDAQ:ASTS)

AST SpaceMobile, Inc. (NASDAQ:ASTS) saw some unusual options trading on Thursday. Stock traders purchased 72,138 call options on the company. This represents an increase of approximately 32% compared to the average daily volume of 54,626 call options.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Fairfield Financial Advisors LTD bought a new stake in shares of AST SpaceMobile in the third quarter valued at approximately $26,000. Hollencrest Capital Management acquired a new stake in AST SpaceMobile during the third quarter worth about $26,000. Rakuten Securities Inc. acquired a new stake in AST SpaceMobile during the third quarter worth about $68,000. Sunbelt Securities Inc. grew its position in AST SpaceMobile by 3,380.0% during the third quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock worth $91,000 after buying an additional 3,380 shares in the last quarter. Finally, KBC Group NV acquired a new stake in AST SpaceMobile during the third quarter worth about $104,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

Shares of ASTS stock traded down $3.20 during trading on Thursday, reaching $19.30. The company had a trading volume of 22,687,326 shares, compared to its average volume of 6,983,389. The firm’s 50 day simple moving average is $23.23 and its two-hundred day simple moving average is $23.70. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. AST SpaceMobile has a one year low of $1.97 and a one year high of $39.08. The company has a market capitalization of $5.59 billion, a PE ratio of -9.11 and a beta of 1.64.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ASTS shares. Scotiabank decreased their price target on shares of AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a report on Friday, November 15th. UBS Group boosted their target price on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, November 15th.

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.