AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 4.3% - Here's Why

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report)'s share price rose 4.3% on Friday . The stock traded as high as $27.56 and last traded at $27.21. Approximately 3,896,002 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 11,689,572 shares. The stock had previously closed at $26.08.

Wall Street Analyst Weigh In

Several research analysts have commented on ASTS shares. UBS Group increased their price objective 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. Cantor Fitzgerald raised shares of AST SpaceMobile to a "strong-buy" rating in a report on Tuesday, February 25th. Finally, 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, January 24th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $40.04.

AST SpaceMobile Trading Down 5.8 %

The company's 50-day simple moving average is $24.21 and its 200 day simple moving average is $25.53. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $7.40 billion, a PE ratio of -11.92 and a beta of 1.62.

Hedge Funds Weigh In On AST SpaceMobile

Large investors have recently made changes to their positions in the business. Hollencrest Capital Management purchased a new position in AST SpaceMobile during the 3rd quarter worth $26,000. Summit Securities Group LLC acquired a new position in shares of AST SpaceMobile during the fourth quarter valued at about $37,000. Bernard Wealth Management Corp. purchased a new position in shares of AST SpaceMobile in the 4th quarter valued at approximately $42,000. Golden State Wealth Management LLC acquired a new stake in AST SpaceMobile in the 4th quarter worth approximately $46,000. Finally, CIBC Private Wealth Group LLC grew its position in AST SpaceMobile by 106.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock worth $53,000 after purchasing an additional 1,222 shares during the last quarter. 60.95% of the stock is 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.