AST SpaceMobile (NASDAQ:ASTS) Trading 10.8% Higher – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price traded up 10.8% during trading on Tuesday . The stock traded as high as $22.45 and last traded at $23.02. 2,654,041 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 5,198,360 shares. The stock had previously closed at $20.78.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ASTS. Scotiabank dropped their price objective on AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating on the stock in a report on Friday, November 15th. UBS Group increased their price objective on shares of AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, November 15th.

AST SpaceMobile Trading Down 12.0 %

The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The firm’s 50 day moving average is $23.23 and its two-hundred day moving average is $23.70. The stock has a market cap of $5.74 billion, a price-to-earnings ratio of -9.34 and a beta of 1.64.

Institutional Investors Weigh In On AST SpaceMobile

Several large investors have recently added to or reduced their stakes in the stock. Privium Fund Management B.V. bought a new position in shares of AST SpaceMobile in the third quarter valued at approximately $21,476,000. Charles Schwab Investment Management Inc. increased its position in shares of AST SpaceMobile by 228.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock valued at $29,594,000 after purchasing an additional 787,566 shares during the period. Renaissance Technologies LLC bought a new stake in shares of AST SpaceMobile in the 2nd quarter worth $4,757,000. State Street Corp raised 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. Finally, Geode Capital Management LLC raised its holdings in shares of AST SpaceMobile by 9.4% in 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 in the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.

About AST SpaceMobile

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.