AST SpaceMobile, Inc. (NASDAQ:ASTS) Sees Large Growth in Short Interest

AST SpaceMobile, Inc. (NASDAQ:ASTS) was the recipient of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 42,740,000 shares, an increase of 30.1% from the January 15th total of 32,850,000 shares. Based on an average daily trading volume, of 10,130,000 shares, the short-interest ratio is currently 4.2 days. Currently, 28.6% of the company’s stock are short sold.

Institutional Investors Weigh In On AST SpaceMobile

Several institutional investors have recently added to or reduced their stakes in ASTS. Capital Investment Advisors LLC acquired a new stake in AST SpaceMobile in the third quarter worth about $216,000. MBE Wealth Management LLC raised its position in AST SpaceMobile by 37.5% during the third quarter. MBE Wealth Management LLC now owns 37,116 shares of the company’s stock valued at $971,000 after acquiring an additional 10,116 shares in the last quarter. Calton & Associates Inc. raised its position in AST SpaceMobile by 14.5% during the third quarter. Calton & Associates Inc. now owns 12,600 shares of the company’s stock valued at $329,000 after acquiring an additional 1,600 shares in the last quarter. Private Advisor Group LLC raised its position in AST SpaceMobile by 18.2% during the third quarter. Private Advisor Group LLC now owns 19,170 shares of the company’s stock valued at $501,000 after acquiring an additional 2,955 shares in the last quarter. Finally, Allworth Financial LP increased its position in shares of AST SpaceMobile by 3,554.0% in the third quarter. Allworth Financial LP now owns 9,208 shares of the company’s stock valued at $241,000 after buying an additional 8,956 shares in the last quarter. Institutional investors and hedge funds own 60.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. UBS Group raised their price target on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Cantor Fitzgerald assumed coverage on AST SpaceMobile in a research note on Thursday, February 6th. They set an “overweight” rating and a $30.00 price target on the stock. Finally, Scotiabank cut their price target on AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating on the stock in a research note on Friday, January 24th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $40.04.

AST SpaceMobile Trading Up 6.8 %

NASDAQ ASTS traded up $2.05 during trading on Friday, hitting $32.10. The company’s stock had a trading volume of 13,985,242 shares, compared to its average volume of 11,050,126. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The business’s 50 day simple moving average is $23.20 and its 200-day simple moving average is $24.88. AST SpaceMobile has a fifty-two week low of $1.97 and a fifty-two week high of $39.08.

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.