AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 0.3% - Here's What Happened

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) shares were up 0.3% during mid-day trading on Friday . The stock traded as high as $30.75 and last traded at $30.13. Approximately 3,903,906 shares changed hands during trading, a decline of 66% from the average daily volume of 11,322,771 shares. The stock had previously closed at $30.05.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ASTS shares. Cantor Fitzgerald started coverage on AST SpaceMobile in a research note on Thursday, February 6th. They set an "overweight" rating and a $30.00 target price on the stock. 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. Finally, UBS Group boosted their target price on AST SpaceMobile from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $40.04.

AST SpaceMobile Stock Performance

The company has a market capitalization of $9.30 billion, a PE ratio of -15.14 and a beta of 1.62. The company has a 50 day moving average of $23.20 and a two-hundred day moving average of $24.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

Institutional Investors Weigh In On AST SpaceMobile

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amalgamated Bank boosted its holdings in AST SpaceMobile by 17.4% in the third quarter. Amalgamated Bank now owns 4,578 shares of the company's stock worth $120,000 after acquiring an additional 679 shares in the last quarter. Xponance Inc. boosted its holdings in AST SpaceMobile by 8.7% in the fourth quarter. Xponance Inc. now owns 9,676 shares of the company's stock worth $204,000 after acquiring an additional 772 shares in the last quarter. Hollencrest Capital Management bought a new stake in AST SpaceMobile in the third quarter worth $26,000. Fairfield Financial Advisors LTD bought a new stake in AST SpaceMobile in the third quarter worth $26,000. Finally, CIBC Private Wealth Group LLC boosted its holdings in AST SpaceMobile by 106.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock worth $53,000 after acquiring an additional 1,222 shares in the last quarter. 60.95% of the stock is owned by hedge funds and other institutional investors.

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.