AST SpaceMobile (NASDAQ:ASTS) Trading Up 5.2%

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares traded up 5.2% during trading on Thursday . The stock traded as high as $3.03 and last traded at $3.01. 469,515 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 4,438,854 shares. The stock had previously closed at $2.86.

Analysts Set New Price Targets

ASTS has been the subject of several recent research reports. Scotiabank began coverage on AST SpaceMobile in a report on Wednesday, March 6th. They issued a “sector outperform” rating and a $7.50 price objective for the company. UBS Group started coverage on shares of AST SpaceMobile in a report on Friday, March 8th. They issued a “buy” rating and a $7.00 target price on the stock.

AST SpaceMobile Price Performance

The stock has a fifty day moving average of $3.08 and a two-hundred day moving average of $3.90. The company has a quick ratio of 6.06, a current ratio of 6.06 and a debt-to-equity ratio of 0.20. The stock has a market cap of $628.76 million, a price-to-earnings ratio of -3.58 and a beta of 0.88.

Hedge Funds Weigh In On AST SpaceMobile

Several institutional investors and hedge funds have recently made changes to their positions in the business. UBS Group AG lifted its stake in AST SpaceMobile by 45.3% in the first 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 during the last quarter. Royal Bank of Canada raised its stake in shares of AST SpaceMobile by 357.3% in the 3rd quarter. Royal Bank of Canada now owns 3,576 shares of the company’s stock valued at $26,000 after acquiring an additional 2,794 shares in the last quarter. Tower Research Capital LLC TRC increased its position in AST SpaceMobile by 120.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 7,128 shares of the company’s stock worth $27,000 after buying an additional 3,897 shares during the period. Stifel Financial Corp increased its position in shares of AST SpaceMobile by 1.9% during the third quarter. Stifel Financial Corp now owns 251,900 shares of the company’s stock valued at $957,000 after purchasing an additional 4,744 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in AST SpaceMobile by 19.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,631 shares of the company’s stock valued at $113,000 after buying an additional 4,844 shares in the last quarter. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

AST SpaceMobile Company Profile

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.