AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 3.2% – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price shot up 3.2% on Thursday . The stock traded as high as $29.15 and last traded at $28.12. Approximately 4,465,556 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 11,701,399 shares. The stock had previously closed at $27.24.

Analysts Set New Price Targets

Several analysts have commented on the stock. Scotiabank decreased their price objective on shares of AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating for the company in a research note on Friday, January 24th. Cantor Fitzgerald upgraded shares of AST SpaceMobile to a “strong-buy” rating in a research report on Tuesday. Finally, UBS Group upped their price target on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, November 15th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $40.04.

AST SpaceMobile Price Performance

The stock has a market capitalization of $7.85 billion, a PE ratio of -12.79 and a beta of 1.62. 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 stock’s fifty day moving average is $24.21 and its 200-day moving average is $25.47.

Institutional Investors Weigh In On AST SpaceMobile

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in AST SpaceMobile by 49.4% in the 4th quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company’s stock worth $316,233,000 after purchasing an additional 4,955,941 shares during the period. T. Rowe Price Investment Management Inc. acquired a new position in shares of AST SpaceMobile during the 4th quarter worth approximately $59,523,000. Privium Fund Management B.V. acquired a new position in shares of AST SpaceMobile during the 3rd quarter worth approximately $21,476,000. Charles Schwab Investment Management Inc. lifted its position in shares of AST SpaceMobile by 228.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock valued at $29,594,000 after buying an additional 787,566 shares in the last quarter. Finally, State Street Corp grew its stake in AST SpaceMobile by 14.8% in the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company’s stock valued at $80,845,000 after acquiring an additional 399,713 shares during the period. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.