AST SpaceMobile, Inc. (NASDAQ:ASTS) Short Interest Update

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) saw a large growth in short interest in March. As of March 31st, there was short interest totalling 27,620,000 shares, a growth of 28.4% from the March 15th total of 21,510,000 shares. Approximately 27.4% of the shares of the company are short sold. Based on an average daily trading volume, of 4,650,000 shares, the days-to-cover ratio is currently 5.9 days.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ASTS shares. Scotiabank decreased their target price on AST SpaceMobile from $7.50 to $7.40 and set a "sector outperform" rating for the company in a research report on Tuesday, April 2nd. UBS Group initiated coverage on shares of AST SpaceMobile in a research note on Friday, March 8th. They set a "buy" rating and a $7.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of AST SpaceMobile from $23.00 to $19.00 and set a "buy" rating on the stock in a research note on Wednesday, April 3rd.

AST SpaceMobile Stock Performance

NASDAQ:ASTS traded up $0.02 on Friday, hitting $2.13. The stock had a trading volume of 3,180,540 shares, compared to its average volume of 4,230,213. The stock has a market cap of $545.37 million, a price-to-earnings ratio of -2.03 and a beta of 0.87. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 0.28. The business's 50-day simple moving average is $2.91 and its two-hundred day simple moving average is $3.77. AST SpaceMobile has a 52-week low of $1.97 and a 52-week high of $7.10.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada boosted its position in AST SpaceMobile by 357.3% in the third quarter. Royal Bank of Canada now owns 3,576 shares of the company's stock worth $26,000 after purchasing an additional 2,794 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in AST SpaceMobile by 120.6% in the third quarter. Tower Research Capital LLC TRC now owns 7,128 shares of the company's stock worth $27,000 after purchasing an additional 3,897 shares during the last quarter. 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 valued at $42,000 after buying an additional 1,316 shares in the last quarter. Bayesian Capital Management LP purchased a new position in shares of AST SpaceMobile during the 2nd quarter valued at about $56,000. Finally, Squarepoint Ops LLC purchased a new position in shares of AST SpaceMobile during the 4th quarter valued at about $57,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

About AST SpaceMobile

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.