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

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares gapped up before the market opened on Friday . The stock had previously closed at $19.80, but opened at $20.45. AST SpaceMobile shares last traded at $20.03, with a volume of 3,718,417 shares trading hands.

Analyst Ratings Changes

Several research analysts have weighed in on ASTS shares. UBS Group upped 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. Scotiabank dropped their price target on shares of AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating on the stock in a research note on Friday.

AST SpaceMobile Trading Up 2.8 %

The firm has a market cap of $5.90 billion, a P/E ratio of -9.60 and a beta of 1.64. The company has a 50 day moving average of $23.02 and a 200 day moving average of $23.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80.

Institutional Investors Weigh In On AST SpaceMobile

A number of large investors have recently bought and sold shares of ASTS. Fairfield Financial Advisors LTD acquired a new stake in shares of AST SpaceMobile in the third quarter worth about $26,000. Hollencrest Capital Management bought a new position in shares of AST SpaceMobile in the 3rd quarter valued at approximately $26,000. Rakuten Securities Inc. bought a new position in shares of AST SpaceMobile in the 3rd quarter valued at approximately $68,000. Sunbelt Securities Inc. lifted its holdings in AST SpaceMobile by 3,380.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 3,480 shares of the company’s stock worth $91,000 after purchasing an additional 3,380 shares during the last quarter. Finally, KBC Group NV bought a new stake in AST SpaceMobile during the third quarter worth approximately $104,000. 60.95% of the stock is currently owned by institutional investors.

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.