Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) shot up 6.8% during mid-day trading on Monday . The stock traded as high as $32.47 and last traded at $32.10. 13,985,242 shares were traded during trading, an increase of 27% from the average session volume of 11,050,126 shares. The stock had previously closed at $30.05.
Analyst Ratings Changes
ASTS has been the subject of a number of research analyst reports. UBS Group lifted their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Scotiabank cut their price objective 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, Cantor Fitzgerald initiated coverage on AST SpaceMobile in a research report on Thursday, February 6th. They issued an "overweight" rating and a $30.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $40.04.
Check Out Our Latest Stock Report on ASTS
AST SpaceMobile Stock Performance
The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The stock's 50 day simple moving average is $23.87 and its two-hundred day simple moving average is $25.28. The company has a market capitalization of $8.30 billion, a P/E ratio of -13.51 and a beta of 1.62.
Institutional Investors Weigh In On AST SpaceMobile
Institutional investors and hedge funds have recently made changes to their positions in the company. Hollencrest Capital Management bought a new stake in shares of AST SpaceMobile during the third quarter worth $26,000. Fairfield Financial Advisors LTD bought a new stake in AST SpaceMobile during the 3rd quarter worth about $26,000. Summit Securities Group LLC bought a new stake in AST SpaceMobile during the 4th quarter worth about $37,000. Golden State Wealth Management LLC bought a new stake in AST SpaceMobile during the 4th quarter worth about $46,000. Finally, CIBC Private Wealth Group LLC raised its stake in shares of AST SpaceMobile by 106.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock worth $53,000 after buying an additional 1,222 shares during the last quarter. Institutional investors own 60.95% of the company's stock.
About AST SpaceMobile
(
Get Free Report)
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.
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