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

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ASTS shares. UBS Group raised their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Scotiabank dropped their price target on shares of AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a research report on Friday, November 15th.

AST SpaceMobile Stock Down 2.1 %

The firm has a 50-day moving average of $23.68 and a two-hundred day moving average of $22.97. The firm has a market cap of $6.52 billion, a price-to-earnings ratio of -10.62 and a beta of 1.64. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

Hedge Funds Weigh In On AST SpaceMobile

Several large investors have recently bought and sold shares of the stock. Privium Fund Management B.V. bought a new position in shares of AST SpaceMobile during the 3rd quarter worth about $21,476,000. Oppenheimer & Co. Inc. bought a new position in AST SpaceMobile during the second quarter valued at about $9,270,000. Charles Schwab Investment Management Inc. raised its holdings in AST SpaceMobile by 228.9% in 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 acquiring an additional 787,566 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of AST SpaceMobile in the 2nd quarter worth approximately $4,757,000. Finally, State Street Corp grew its holdings in shares of AST SpaceMobile by 14.8% during the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company’s stock worth $80,845,000 after purchasing an additional 399,713 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.