AST SpaceMobile (NASDAQ:ASTS) Sees Strong Trading Volume

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) shares saw unusually-high trading volume on Friday . Approximately 13,169,609 shares changed hands during trading, an increase of 171% from the previous session's volume of 4,851,301 shares.The stock last traded at $4.58 and had previously closed at $4.03.

Analyst Upgrades and Downgrades

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

AST SpaceMobile Price Performance

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 company's fifty day moving average price is $2.50 and its 200 day moving average price is $3.59. The company has a market capitalization of $1.16 billion, a P/E ratio of -4.66 and a beta of 0.93.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last posted its quarterly earnings data on Monday, April 1st. The company reported ($0.35) EPS for the quarter. As a group, sell-side analysts forecast that AST SpaceMobile, Inc. will post -0.62 EPS for the current year.

Hedge Funds Weigh In On AST SpaceMobile

Several hedge funds and other institutional investors have recently made changes to their positions in ASTS. Bank of New York Mellon Corp grew its position in AST SpaceMobile by 37.3% in the third quarter. Bank of New York Mellon Corp now owns 258,898 shares of the company's stock valued at $984,000 after acquiring an additional 70,276 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of AST SpaceMobile during the 3rd quarter valued at approximately $133,000. Quantbot Technologies LP acquired a new position in AST SpaceMobile during the 3rd quarter worth approximately $83,000. State Board of Administration of Florida Retirement System lifted its stake in AST SpaceMobile by 33.4% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 22,940 shares of the company's stock valued at $87,000 after purchasing an additional 5,740 shares during the last quarter. Finally, Dark Forest Capital Management LP boosted its position in AST SpaceMobile by 110.5% in the third quarter. Dark Forest Capital Management LP now owns 240,245 shares of the company's stock valued at $913,000 after buying an additional 126,102 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.