AST SpaceMobile (NASDAQ:ASTS) Shares Up 0.8% – What’s Next?

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ASTS shares. UBS Group boosted their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Cantor Fitzgerald started coverage on shares of AST SpaceMobile in a report on Thursday, February 6th. They set an “overweight” rating and a $30.00 price objective on the stock. Finally, Scotiabank reduced their target price 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, the stock presently has an average rating of “Buy” and an average price target of $40.04.

AST SpaceMobile Price Performance

The stock has a market cap of $9.15 billion, a price-to-earnings ratio of -14.89 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The stock’s 50 day simple moving average is $23.77 and its two-hundred day simple moving average is $25.17.

Institutional Trading of AST SpaceMobile

Several institutional investors have recently made changes to their positions in ASTS. Vanguard Group Inc. raised its position in AST SpaceMobile by 49.4% in the fourth 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 in the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in shares of AST SpaceMobile in the 4th quarter worth approximately $59,523,000. Privium Fund Management B.V. bought a new position in shares of AST SpaceMobile during the 3rd quarter worth approximately $21,476,000. Charles Schwab Investment Management Inc. lifted its position in shares of AST SpaceMobile by 228.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock worth $29,594,000 after buying an additional 787,566 shares during the period. Finally, State Street Corp boosted its stake 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 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.