AST SpaceMobile (NASDAQ:ASTS) Shares Gap Up to $2.84

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Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $2.84, but opened at $2.90. AST SpaceMobile shares last traded at $2.75, with a volume of 521,038 shares traded.

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Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft dropped their price target on AST SpaceMobile from $32.00 to $23.00 and set a "buy" rating for the company in a research report on Tuesday, November 21st.

Read Our Latest Stock Analysis on ASTS

AST SpaceMobile Stock Performance

The firm's 50 day moving average price is $4.67 and its two-hundred day moving average price is $4.14. 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 firm has a market cap of $606.93 million, a PE ratio of -3.38 and a beta of 0.86.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its earnings results on Tuesday, November 14th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.02). On average, research analysts forecast that AST SpaceMobile, Inc. will post -0.94 earnings per share for the current year.

Hedge Funds Weigh In On AST SpaceMobile

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A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in AST SpaceMobile by 357.3% in the third quarter. Royal Bank of Canada now owns 3,576 shares of the company's stock valued at $26,000 after purchasing an additional 2,794 shares during the period. UBS Group AG lifted its position in shares of AST SpaceMobile by 45.3% during the 1st quarter. UBS Group AG now owns 4,222 shares of the company's stock worth $42,000 after purchasing an additional 1,316 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of AST SpaceMobile by 1,831.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 5,890 shares of the company's stock worth $30,000 after purchasing an additional 5,585 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of AST SpaceMobile during the 2nd quarter worth $34,000. Finally, CWM LLC purchased a new stake in shares of AST SpaceMobile during the 2nd quarter worth $47,000. 54.53% of the stock is currently owned by hedge funds and other institutional investors.

About AST SpaceMobile

(Get Free Report)

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.

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