AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 15.1% - Here's What Happened

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Scotiabank dropped their price target on shares of 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. UBS Group increased their price target on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a report on Friday, November 15th.

AST SpaceMobile Price Performance

The firm has a fifty day moving average of $22.45 and a 200 day moving average of $23.96. 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 company has a market capitalization of $5.86 billion, a P/E ratio of -9.55 and a beta of 1.64.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Sei Investments Co. bought a new stake in AST SpaceMobile in the 2nd quarter worth approximately $728,000. Marshall Wace LLP boosted its stake in shares of AST SpaceMobile by 150.4% in the 2nd quarter. Marshall Wace LLP now owns 126,685 shares of the company's stock worth $1,471,000 after buying an additional 76,088 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of AST SpaceMobile by 31.9% in the second quarter. The Manufacturers Life Insurance Company now owns 51,209 shares of the company's stock worth $595,000 after acquiring an additional 12,391 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in AST SpaceMobile during the second quarter valued at $278,000. Finally, Miracle Mile Advisors LLC bought a new position in shares of AST SpaceMobile in the 3rd quarter worth approximately $328,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

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.