AST SpaceMobile (NASDAQ:ASTS) Shares Gap Up - Should You Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $19.80, but opened at $20.45. AST SpaceMobile shares last traded at $20.03, with a volume of 3,718,417 shares trading hands.

Wall Street Analysts Forecast Growth

ASTS has been the subject of several research reports. 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 report on Friday. 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.

AST SpaceMobile Trading Up 2.8 %

The business has a 50-day simple moving average of $23.02 and a 200-day simple moving average of $23.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80.

Institutional Investors Weigh In On AST SpaceMobile

Several hedge funds and other institutional investors have recently made changes to their positions in ASTS. JPMorgan Chase & Co. lifted its stake in shares of AST SpaceMobile by 235.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company's stock worth $6,479,000 after acquiring an additional 174,007 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new stake in shares of AST SpaceMobile during the second quarter worth $278,000. Van ECK Associates Corp lifted its position in shares of AST SpaceMobile by 141.1% during the third quarter. Van ECK Associates Corp now owns 103,437 shares of the company's stock worth $2,716,000 after purchasing an additional 60,530 shares during the last quarter. Algert Global LLC purchased a new stake in shares of AST SpaceMobile during the third quarter valued at $768,000. Finally, Americana Partners LLC bought a new position in shares of AST SpaceMobile in the third quarter worth about $673,000. Hedge funds and other institutional investors own 60.95% of the company's stock.

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.