AST SpaceMobile (NASDAQ:ASTS) Trading Up 15.1% – Here’s Why

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares were up 15.1% during trading on Friday . The stock traded as high as $20.76 and last traded at $20.97. Approximately 4,563,163 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 8,635,115 shares. The stock had previously closed at $18.21.

Analyst Ratings Changes

ASTS has been the topic of a number of recent research reports. Scotiabank decreased their price objective on AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating on the stock in a research report on Friday, January 24th. 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.

AST SpaceMobile Stock Up 16.5 %

The company has a market cap of $6.15 billion, a P/E ratio of -9.95 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 company has a 50-day simple moving average of $22.53 and a 200 day simple moving average of $23.91.

Hedge Funds Weigh In On AST SpaceMobile

A number of institutional investors have recently modified their holdings of the stock. Fairfield Financial Advisors LTD purchased a new position in AST SpaceMobile during the 3rd quarter worth $26,000. Hollencrest Capital Management purchased a new position in shares of AST SpaceMobile during the third quarter valued at $26,000. Golden State Wealth Management LLC purchased a new stake in AST SpaceMobile in the fourth quarter worth about $46,000. Rakuten Securities Inc. purchased a new stake in AST SpaceMobile in the third quarter worth about $68,000. Finally, Sunbelt Securities Inc. grew its holdings in AST SpaceMobile by 3,380.0% during the 3rd quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock worth $91,000 after acquiring an additional 3,380 shares in the last quarter. 60.95% of the stock is owned by hedge funds and other institutional investors.

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.