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

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

Wall Street Analyst Weigh In

Several brokerages have recently commented on ASTS. UBS Group raised their target price on 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 initiated coverage on AST SpaceMobile in a research report on Thursday, February 6th. They set an “overweight” rating and a $30.00 price objective for the company. Finally, Scotiabank dropped their target price on AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating on the stock in a report on Friday, January 24th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $40.04.

AST SpaceMobile Trading Up 1.3 %

The firm has a market capitalization of $9.15 billion, a PE 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 company has a fifty day moving average of $23.77 and a 200-day moving average of $25.17.

Institutional Investors Weigh In On AST SpaceMobile

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. First Heartland Consultants Inc. grew its stake in shares of AST SpaceMobile by 42.3% in the 4th quarter. First Heartland Consultants Inc. now owns 14,499 shares of the company’s stock valued at $306,000 after buying an additional 4,311 shares in the last quarter. PharVision Advisers LLC acquired a new stake in AST SpaceMobile in the fourth quarter valued at approximately $541,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in AST SpaceMobile by 49.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 275,810 shares of the company’s stock worth $5,820,000 after acquiring an additional 91,536 shares in the last quarter. Twinbeech Capital LP acquired a new position in shares of AST SpaceMobile during the 4th quarter worth $4,684,000. Finally, Two Sigma Investments LP increased its stake in shares of AST SpaceMobile by 117.5% during the 4th quarter. Two Sigma Investments LP now owns 51,874 shares of the company’s stock worth $1,095,000 after purchasing an additional 28,025 shares during 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.