Stock Traders Purchase High Volume of AST SpaceMobile Call Options (NASDAQ:ASTS)

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) was the target of some unusual options trading activity on Thursday. Stock traders bought 72,138 call options on the stock. This is an increase of approximately 32% compared to the average daily volume of 54,626 call options.

Institutional Trading of AST SpaceMobile

Several hedge funds and other institutional investors have recently bought and sold shares of ASTS. JPMorgan Chase & Co. increased its position in AST SpaceMobile by 235.9% during the third quarter. JPMorgan Chase & Co. now owns 247,781 shares of the company's stock valued at $6,479,000 after acquiring an additional 174,007 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in AST SpaceMobile during the 2nd quarter valued at about $278,000. Van ECK Associates Corp grew its holdings in AST SpaceMobile by 141.1% during the 3rd quarter. Van ECK Associates Corp now owns 103,437 shares of the company's stock valued at $2,716,000 after purchasing an additional 60,530 shares during the last quarter. Algert Global LLC purchased a new stake in AST SpaceMobile in the 3rd quarter worth about $768,000. Finally, Americana Partners LLC bought a new stake in AST SpaceMobile in the third quarter worth about $673,000. Hedge funds and other institutional investors own 60.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Scotiabank dropped their price target on AST SpaceMobile from $45.90 to $44.70 and set a "sector outperform" rating for the company in a research note on Friday, November 15th. UBS Group increased their target price on AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Friday, November 15th.

AST SpaceMobile Trading Down 12.0 %

NASDAQ ASTS traded down $2.69 during trading hours on Thursday, hitting $19.80. 34,967,629 shares of the company were exchanged, compared to its average volume of 7,945,929. The stock has a market cap of $5.74 billion, a PE ratio of -9.34 and a beta of 1.64. AST SpaceMobile has a 52 week low of $1.97 and a 52 week high of $39.08. The stock has a 50-day moving average price of $23.09 and a 200 day moving average price of $23.67. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31.

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.