Stock Traders Buy High Volume of Call Options on AST SpaceMobile (NASDAQ:ASTS)

AST SpaceMobile, Inc. (NASDAQ:ASTS) was the recipient of unusually large options trading activity on Monday. Traders bought 102,923 call options on the stock. This is an increase of 68% compared to the typical daily volume of 61,434 call options.

Institutional Trading of AST SpaceMobile

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. acquired a new stake in AST SpaceMobile in the 4th quarter valued at $42,000. First Heartland Consultants Inc. lifted its holdings in shares of AST SpaceMobile by 42.3% during the fourth quarter. First Heartland Consultants Inc. now owns 14,499 shares of the company’s stock valued at $306,000 after acquiring an additional 4,311 shares during the period. PharVision Advisers LLC acquired a new stake in shares of AST SpaceMobile in the 4th quarter valued at $541,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of AST SpaceMobile by 49.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 275,810 shares of the company’s stock worth $5,820,000 after purchasing an additional 91,536 shares during the last quarter. Finally, Twinbeech Capital LP bought a new stake in shares of AST SpaceMobile in the 4th quarter worth about $4,684,000. Institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Trading Up 11.7 %

Shares of AST SpaceMobile stock opened at $28.61 on Wednesday. AST SpaceMobile has a 52-week low of $1.97 and a 52-week high of $39.08. The firm has a market capitalization of $8.29 billion, a PE ratio of -13.50 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80. The company’s fifty day moving average price is $24.36 and its two-hundred day moving average price is $25.47.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ASTS shares. Scotiabank reduced their price target on 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. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 target price on shares of AST SpaceMobile in a report on Tuesday. Finally, UBS Group increased their price target on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, November 15th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AST SpaceMobile has an average rating of “Buy” and an average price target of $40.04.

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.