AST SpaceMobile (NASDAQ:ASTS) Trading 0.8% Higher - Here's Why

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) shares traded up 0.8% during mid-day trading on Tuesday . The company traded as high as $33.55 and last traded at $32.37. 6,804,294 shares changed hands during trading, a decline of 41% from the average session volume of 11,523,183 shares. The stock had previously closed at $32.10.

Analysts Set New Price Targets

Several research firms recently commented on ASTS. Cantor Fitzgerald started coverage on shares of AST SpaceMobile in a research note on Thursday, February 6th. They issued an "overweight" rating and a $30.00 price target on the stock. UBS Group upped their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Finally, Scotiabank decreased their price target on shares of AST SpaceMobile from $44.70 to $40.20 and set a "sector outperform" rating for the company in a research note on Friday, January 24th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $40.04.

AST SpaceMobile Stock Performance

The firm has a 50 day moving average price of $23.77 and a 200 day moving average price of $25.17. The stock has a market cap of $8.30 billion, a PE ratio of -13.51 and a beta of 1.62. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in AST SpaceMobile by 49.4% during the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock valued at $316,233,000 after acquiring an additional 4,955,941 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in shares of AST SpaceMobile in the fourth quarter worth approximately $59,523,000. Privium Fund Management B.V. purchased a new stake in AST SpaceMobile in the 3rd quarter valued at $21,476,000. Charles Schwab Investment Management Inc. grew its holdings in AST SpaceMobile by 228.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company's stock valued at $29,594,000 after buying an additional 787,566 shares in the last quarter. Finally, State Street Corp grew its holdings in AST SpaceMobile by 14.8% in the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company's stock valued at $80,845,000 after buying an additional 399,713 shares in the last quarter. 60.95% of the stock is currently 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.