AST SpaceMobile (NASDAQ:ASTS) Shares Gap Up - What's Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $26.17, but opened at $28.57. AST SpaceMobile shares last traded at $30.03, with a volume of 6,099,477 shares traded.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald upgraded AST SpaceMobile to a "strong-buy" rating in a research report on Tuesday. Scotiabank decreased their target price on AST SpaceMobile from $44.70 to $40.20 and set a "sector outperform" rating for the company in a research report on Friday, January 24th. Finally, UBS Group boosted their target price on AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $40.04.

AST SpaceMobile Price Performance

The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The company has a 50-day moving average of $24.21 and a 200-day moving average of $25.50. The firm has a market capitalization of $7.85 billion, a price-to-earnings ratio of -12.79 and a beta of 1.62.

Hedge Funds Weigh In On AST SpaceMobile

Institutional investors and hedge funds have recently modified their holdings of the business. Fairfield Financial Advisors LTD acquired a new position in shares of AST SpaceMobile in the 3rd quarter valued at approximately $26,000. Hollencrest Capital Management acquired a new position in shares of AST SpaceMobile in the 3rd quarter valued at approximately $26,000. Summit Securities Group LLC acquired a new position in shares of AST SpaceMobile in the 4th quarter valued at approximately $37,000. Bernard Wealth Management Corp. acquired a new position in shares of AST SpaceMobile in the 4th quarter valued at approximately $42,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of AST SpaceMobile in the 4th quarter valued at approximately $46,000. 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.