AST SpaceMobile Sees Unusually High Options Volume (NASDAQ:ASTS)

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

AST SpaceMobile Trading Up 3.6 %

Shares of ASTS traded up $0.71 during mid-day trading on Friday, reaching $20.51. The company had a trading volume of 10,023,288 shares, compared to its average volume of 8,070,476. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of -9.68 and a beta of 1.64. 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 firm has a fifty day simple moving average of $23.09 and a 200-day simple moving average of $23.67. AST SpaceMobile has a fifty-two week low of $1.97 and a fifty-two week high of $39.08.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Scotiabank reduced their price target on shares of AST SpaceMobile from $45.90 to $44.70 and set a "sector outperform" rating for the company in a research report on Friday, November 15th. UBS Group raised their price target on AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Friday, November 15th.

Hedge Funds Weigh In On AST SpaceMobile

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. lifted its position in AST SpaceMobile by 5.5% during the second quarter. Victory Capital Management Inc. now owns 15,542 shares of the company's stock valued at $180,000 after buying an additional 814 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in AST SpaceMobile during the 2nd quarter worth $4,757,000. Sei Investments Co. purchased a new position in AST SpaceMobile in the second quarter valued at about $728,000. Marshall Wace LLP lifted its stake in shares of AST SpaceMobile by 150.4% during the second quarter. Marshall Wace LLP now owns 126,685 shares of the company's stock worth $1,471,000 after purchasing an additional 76,088 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position 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 buying an additional 12,391 shares during the period. 60.95% of the stock is owned by institutional investors and hedge funds.

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.