AST SpaceMobile, Inc. (NASDAQ:ASTS) Short Interest Up 30.1% in January

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) was the target of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 42,740,000 shares, an increase of 30.1% from the January 15th total of 32,850,000 shares. Based on an average daily volume of 10,130,000 shares, the short-interest ratio is presently 4.2 days. Currently, 28.6% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Cantor Fitzgerald began coverage on AST SpaceMobile in a report on Thursday, February 6th. They set an "overweight" rating and a $30.00 target price on the stock. UBS Group raised their price target on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Finally, Scotiabank dropped their price objective on shares of 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 analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AST SpaceMobile currently has a consensus rating of "Buy" and an average target price of $40.04.

AST SpaceMobile Price Performance

Shares of NASDAQ:ASTS traded up $2.05 during trading on Monday, reaching $32.10. The company had a trading volume of 13,985,242 shares, compared to its average volume of 11,050,126. The stock has a market capitalization of $9.30 billion, a P/E ratio of -15.14 and a beta of 1.62. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile has a 12 month low of $1.97 and a 12 month high of $39.08. The company has a fifty day moving average of $23.32 and a two-hundred day moving average of $24.99.

Hedge Funds Weigh In On AST SpaceMobile

Hedge funds have recently modified their holdings of the company. Hollencrest Capital Management purchased a new stake in shares of AST SpaceMobile in the 3rd quarter worth about $26,000. Fairfield Financial Advisors LTD purchased a new stake in AST SpaceMobile in the third quarter worth approximately $26,000. Summit Securities Group LLC purchased a new stake in AST SpaceMobile during the fourth quarter valued at $37,000. Golden State Wealth Management LLC purchased a new stake in shares of AST SpaceMobile during the 4th quarter valued at about $46,000. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of AST SpaceMobile by 106.3% during the 4th 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 during the last quarter. Hedge funds and other institutional investors own 60.95% of the company's stock.

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.