AST SpaceMobile (NASDAQ:ASTS) Shares Up 5.2%

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price traded up 5.2% during mid-day trading on Thursday . The company traded as high as $3.03 and last traded at $3.01. 469,515 shares changed hands during trading, a decline of 89% from the average session volume of 4,438,854 shares. The stock had previously closed at $2.86.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ASTS shares. UBS Group started coverage on shares of AST SpaceMobile in a research note on Friday, March 8th. They issued a “buy” rating and a $7.00 price target on the stock. Scotiabank began coverage on AST SpaceMobile in a report on Wednesday, March 6th. They issued a “sector outperform” rating and a $7.50 price objective on the stock.

AST SpaceMobile Stock Performance

The company has a debt-to-equity ratio of 0.20, a quick ratio of 6.06 and a current ratio of 6.06. The company has a market cap of $628.76 million, a P/E ratio of -3.58 and a beta of 0.88. The firm has a 50 day moving average price of $3.08 and a 200-day moving average price of $3.90.

Institutional Investors Weigh In On AST SpaceMobile

Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its holdings in AST SpaceMobile by 357.3% in the 3rd quarter. Royal Bank of Canada now owns 3,576 shares of the company’s stock worth $26,000 after acquiring an additional 2,794 shares during the period. Tower Research Capital LLC TRC boosted its stake in AST SpaceMobile by 120.6% during the 3rd quarter. Tower Research Capital LLC TRC now owns 7,128 shares of the company’s stock valued at $27,000 after purchasing an additional 3,897 shares during the period. UBS Group AG boosted its stake in AST SpaceMobile by 45.3% during the 1st quarter. UBS Group AG now owns 4,222 shares of the company’s stock valued at $42,000 after purchasing an additional 1,316 shares during the period. Bayesian Capital Management LP acquired a new stake in AST SpaceMobile in the 2nd quarter valued at approximately $56,000. Finally, Squarepoint Ops LLC acquired a new position in shares of AST SpaceMobile during the fourth quarter worth approximately $57,000. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Company Profile

AST SpaceMobile, Inc, together with its subsidiaries, operates space-based cellular broadband network for mobile phones in the United States. Its SpaceMobile service provides mobile broadband services to end-users who are out of terrestrial cellular coverage. AST SpaceMobile, Inc was founded in 2017 and is based in Midland, Texas.