AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 9.3% – What’s Next?

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) shot up 9.3% during trading on Thursday . The stock traded as high as $26.88 and last traded at $27.02. 3,000,705 shares changed hands during trading, a decline of 69% from the average session volume of 9,747,061 shares. The stock had previously closed at $24.71.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. 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 report on Friday, November 15th. Cantor Fitzgerald initiated coverage on shares of AST SpaceMobile in a research note on Thursday. They issued an “overweight” rating and a $30.00 target price on the stock. Finally, Scotiabank reduced their target price on AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating on the stock in a research note on Friday, January 24th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $40.04.

AST SpaceMobile Price Performance

The firm has a market capitalization of $7.81 billion, a PE ratio of -12.62 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80. The stock has a fifty day moving average price of $22.42 and a 200-day moving average price of $24.25.

Institutional Trading of AST SpaceMobile

A number of institutional investors have recently made changes to their positions in ASTS. Geode Capital Management LLC boosted its holdings in AST SpaceMobile by 9.4% in the third 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 in the last quarter. State Street Corp increased its stake in AST SpaceMobile by 14.8% during the 3rd quarter. State Street Corp now owns 3,091,577 shares of the company’s stock valued at $80,845,000 after purchasing an additional 399,713 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in AST SpaceMobile by 11.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company’s stock valued at $26,728,000 after purchasing an additional 135,008 shares in the last quarter. Oppenheimer & Co. Inc. raised its holdings in shares of AST SpaceMobile by 0.9% in the fourth quarter. Oppenheimer & Co. Inc. now owns 854,063 shares of the company’s stock worth $18,021,000 after buying an additional 7,991 shares during the last quarter. Finally, Privium Fund Management B.V. acquired a new stake in shares of AST SpaceMobile during the third quarter worth $21,476,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

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.