AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 5.9% – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS) traded up 5.9% during mid-day trading on Thursday . The stock traded as high as $29.79 and last traded at $29.23. 4,823,911 shares changed hands during trading, a decline of 57% from the average session volume of 11,295,948 shares. The stock had previously closed at $27.61.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ASTS shares. Cantor Fitzgerald started coverage on AST SpaceMobile in a research note on Thursday, February 6th. They issued an “overweight” rating and a $30.00 price objective on the stock. Scotiabank dropped 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. Finally, UBS Group increased 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. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, AST SpaceMobile currently has a consensus rating of “Buy” and an average price target of $40.04.

AST SpaceMobile Trading Up 6.8 %

The stock has a market capitalization of $9.30 billion, a P/E ratio of -15.14 and a beta of 1.62. 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 $23.20 and a two-hundred day moving average price of $24.83.

Hedge Funds Weigh In On AST SpaceMobile

Several hedge funds have recently bought and sold shares of the company. FAS Wealth Partners Inc. bought a new position in AST SpaceMobile in the 4th quarter valued at about $540,000. Lido Advisors LLC acquired a new position in AST SpaceMobile during the fourth quarter valued at approximately $370,000. Northern Trust Corp raised its position in AST SpaceMobile by 8.8% during the fourth quarter. Northern Trust Corp now owns 1,233,056 shares of the company’s stock valued at $26,017,000 after purchasing an additional 100,153 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of AST SpaceMobile by 2.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 84,406 shares of the company’s stock worth $1,781,000 after buying an additional 2,006 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of AST SpaceMobile during the 4th quarter worth $128,000. 60.95% of the stock is owned by institutional investors.

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.