AST SpaceMobile (NASDAQ:ASTS) Shares Gap Up – Here’s What Happened

AST SpaceMobile, Inc. (NASDAQ:ASTS) gapped up prior to trading on Thursday . The stock had previously closed at $17.72, but opened at $18.52. AST SpaceMobile shares last traded at $18.57, with a volume of 2,148,366 shares traded.

Analyst Ratings Changes

Several analysts recently issued reports on ASTS shares. UBS Group raised their price target on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Scotiabank lowered their price target on shares of AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating for the company in a research report on Friday, January 24th.

AST SpaceMobile Price Performance

The stock has a 50-day moving average of $22.65 and a two-hundred day moving average of $23.95. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of -8.69 and a beta of 1.64.

Institutional Trading of AST SpaceMobile

Hedge funds have recently made changes to their positions in the stock. Privium Fund Management B.V. acquired a new stake in shares of AST SpaceMobile during the 3rd quarter valued at about $21,476,000. Charles Schwab Investment Management Inc. lifted its stake in AST SpaceMobile by 228.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock valued at $29,594,000 after acquiring an additional 787,566 shares during the last quarter. State Street Corp grew its position in AST SpaceMobile by 14.8% in the third quarter. State Street Corp now owns 3,091,577 shares of the company’s stock worth $80,845,000 after acquiring an additional 399,713 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of AST SpaceMobile by 9.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company’s stock worth $85,450,000 after purchasing an additional 281,749 shares during the last quarter. Finally, Swiss National Bank bought a new position in shares of AST SpaceMobile during the 3rd quarter valued at $6,911,000. 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.