AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 5.9% – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares rose 5.9% during mid-day trading on Thursday . The company traded as high as $29.79 and last traded at $29.23. Approximately 4,823,911 shares traded hands during trading, a decline of 57% from the average daily volume of 11,295,948 shares. The stock had previously closed at $27.61.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. UBS Group lifted their price objective on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Scotiabank reduced their price target on shares of 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. Finally, Cantor Fitzgerald assumed coverage on shares of AST SpaceMobile in a research report on Thursday, February 6th. They set an “overweight” rating and a $30.00 price target on the stock. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $40.04.

AST SpaceMobile Stock Up 6.8 %

The firm has a market capitalization of $9.30 billion, a P/E ratio of -15.14 and a beta of 1.62. The firm’s 50-day moving average is $23.20 and its 200 day moving average is $24.83. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80.

Institutional Trading of AST SpaceMobile

A number of institutional investors have recently modified their holdings of the company. Capital Investment Advisors LLC bought a new stake in shares of AST SpaceMobile in the third quarter worth $216,000. MBE Wealth Management LLC lifted its position in AST SpaceMobile by 37.5% during the 3rd quarter. MBE Wealth Management LLC now owns 37,116 shares of the company’s stock worth $971,000 after buying an additional 10,116 shares in the last quarter. Calton & Associates Inc. lifted its position in AST SpaceMobile by 14.5% during the 3rd quarter. Calton & Associates Inc. now owns 12,600 shares of the company’s stock worth $329,000 after buying an additional 1,600 shares in the last quarter. Private Advisor Group LLC lifted its position in AST SpaceMobile by 18.2% during the 3rd quarter. Private Advisor Group LLC now owns 19,170 shares of the company’s stock worth $501,000 after buying an additional 2,955 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in AST SpaceMobile by 3,554.0% during the third quarter. Allworth Financial LP now owns 9,208 shares of the company’s stock worth $241,000 after acquiring an additional 8,956 shares in the last quarter. 60.95% of the stock is currently owned by 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.