AST SpaceMobile Target of Unusually Large Options Trading (NASDAQ:ASTS)

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) was the target of some unusual options trading activity on Friday. Traders bought 132,097 call options on the stock. This is an increase of approximately 139% compared to the average daily volume of 55,296 call options.

Hedge Funds Weigh In On AST SpaceMobile

A number of institutional investors have recently modified their holdings of ASTS. Vanguard Group Inc. grew its stake in shares of AST SpaceMobile by 49.4% during the 4th quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock worth $316,233,000 after purchasing an additional 4,955,941 shares during the period. Privium Fund Management B.V. purchased a new position in AST SpaceMobile in the 3rd quarter valued at about $21,476,000. Charles Schwab Investment Management Inc. lifted 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 purchasing an additional 787,566 shares in the last quarter. State Street Corp lifted its holdings in shares of AST SpaceMobile by 14.8% during the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company's stock worth $80,845,000 after acquiring an additional 399,713 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of AST SpaceMobile by 9.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company's stock worth $85,450,000 after acquiring an additional 281,749 shares during the period. 60.95% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

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

AST SpaceMobile Stock Performance

Shares of AST SpaceMobile stock traded down $2.74 during trading on Tuesday, reaching $28.40. The company's stock had a trading volume of 13,232,651 shares, compared to its average volume of 11,560,858. The company has a 50-day moving average price of $22.71 and a two-hundred day moving average price of $24.61. The firm has a market cap of $8.23 billion, a PE ratio of -13.40 and a beta of 1.62. AST SpaceMobile has a fifty-two week low of $1.97 and a fifty-two week high of $39.08. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

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.