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

AST SpaceMobile, Inc. (NASDAQ:ASTS) was the target of unusually large options trading activity on Thursday. Stock investors acquired 72,138 call options on the stock. This represents an increase of approximately 32% compared to the average daily volume of 54,626 call options.

AST SpaceMobile Stock Down 14.2 %

Shares of NASDAQ ASTS traded down $3.20 on Thursday, hitting $19.30. The company had a trading volume of 22,687,326 shares, compared to its average volume of 6,983,389. AST SpaceMobile has a 12-month low of $1.97 and a 12-month high of $39.08. The business has a 50 day moving average of $23.23 and a two-hundred day moving average of $23.70. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $5.59 billion, a P/E ratio of -9.11 and a beta of 1.64.

Hedge Funds Weigh In On AST SpaceMobile

Several large investors have recently added to or reduced their stakes in ASTS. Fairfield Financial Advisors LTD acquired a new stake in AST SpaceMobile in the 3rd quarter valued at approximately $26,000. Hollencrest Capital Management acquired a new stake in shares of AST SpaceMobile in the third quarter valued at $26,000. Rakuten Securities Inc. acquired a new stake in shares of AST SpaceMobile in the third quarter valued at $68,000. Sunbelt Securities Inc. lifted its holdings in shares of AST SpaceMobile by 3,380.0% in the third 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 period. Finally, KBC Group NV acquired a new stake in shares of AST SpaceMobile in the third quarter valued at $104,000. 60.95% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Scotiabank reduced their target price 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 increased their price target on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report 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.