AST SpaceMobile (NASDAQ:ASTS) Trading Up 15.1% - What's Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s stock price traded up 15.1% during trading on Friday . The company traded as high as $20.76 and last traded at $20.97. 4,563,163 shares were traded during mid-day trading, a decline of 47% from the average session volume of 8,635,115 shares. The stock had previously closed at $18.21.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. UBS Group raised their price objective on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Scotiabank reduced 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 report on Friday, January 24th.

AST SpaceMobile Stock Performance

The stock's 50-day moving average price is $22.45 and its 200-day moving average price is $24.11. 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 market capitalization of $6.22 billion, a price-to-earnings ratio of -10.13 and a beta of 1.62.

Institutional Investors Weigh In On AST SpaceMobile

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fairfield Financial Advisors LTD acquired a new stake in shares of AST SpaceMobile during the 3rd quarter valued at approximately $26,000. Hollencrest Capital Management acquired a new position in shares of AST SpaceMobile during the 3rd quarter worth approximately $26,000. Golden State Wealth Management LLC acquired a new position in shares of AST SpaceMobile during the 4th quarter worth approximately $46,000. Rakuten Securities Inc. acquired a new position in shares of AST SpaceMobile during the 3rd quarter worth approximately $68,000. Finally, Sunbelt Securities Inc. raised its position in shares of AST SpaceMobile by 3,380.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company's stock worth $91,000 after purchasing an additional 3,380 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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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.