AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 9.3% – Here’s What Happened

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price traded up 9.3% on Thursday . The stock traded as high as $26.88 and last traded at $27.02. 3,000,705 shares changed hands during trading, a decline of 69% from the average session volume of 9,747,061 shares. The stock had previously closed at $24.71.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. UBS Group boosted 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 began coverage on shares of AST SpaceMobile in a research note on Thursday. They issued an “overweight” rating and a $30.00 price target on the stock. Finally, Scotiabank dropped 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. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $40.04.

AST SpaceMobile Stock Down 2.2 %

The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $22.55 and a two-hundred day moving average price of $24.36.

Institutional Investors Weigh In On AST SpaceMobile

Several institutional investors and hedge funds have recently bought and sold shares of the company. Fairfield Financial Advisors LTD bought a new position in AST SpaceMobile in the 3rd quarter valued at about $26,000. Hollencrest Capital Management acquired a new position in AST SpaceMobile during the third quarter valued at approximately $26,000. Golden State Wealth Management LLC bought a new stake in AST SpaceMobile during the fourth quarter worth $46,000. AlphaQuest LLC bought a new stake in AST SpaceMobile during the fourth quarter worth $67,000. Finally, Rakuten Securities Inc. acquired a new stake in shares of AST SpaceMobile in the 3rd quarter valued at $68,000. Institutional investors own 60.95% of the company’s stock.

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.