AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 0.5% After Analyst Upgrade

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price traded up 0.5% during mid-day trading on Thursday after UBS Group raised their price target on the stock from $31.00 to $38.00. UBS Group currently has a buy rating on the stock. AST SpaceMobile traded as high as $35.49 and last traded at $33.96. 9,918,636 shares changed hands during trading, a decline of 21% from the average session volume of 12,522,545 shares. The stock had previously closed at $33.80.

Several other equities research analysts also recently issued reports on ASTS. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $30.00 price target on shares of AST SpaceMobile in a research report on Tuesday. Scotiabank raised their price target on shares of AST SpaceMobile from $40.20 to $47.90 and gave the stock a “sector outperform” rating in a research report on Wednesday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, AST SpaceMobile currently has a consensus rating of “Buy” and a consensus price target of $42.98.

Institutional Trading of AST SpaceMobile

Large investors have recently added to or reduced their stakes in the company. Hollencrest Capital Management bought a new position in shares of AST SpaceMobile in the third quarter valued at about $26,000. Summit Securities Group LLC bought a new stake in shares of AST SpaceMobile during the fourth quarter valued at approximately $37,000. Bernard Wealth Management Corp. acquired a new stake in shares of AST SpaceMobile in the fourth quarter valued at approximately $42,000. Golden State Wealth Management LLC bought a new position in AST SpaceMobile in the 4th quarter worth approximately $46,000. Finally, CIBC Private Wealth Group LLC lifted its holdings in AST SpaceMobile by 106.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock worth $53,000 after buying an additional 1,222 shares in the last quarter. 60.95% of the stock is owned by institutional investors.

AST SpaceMobile Stock Performance

The firm has a fifty day simple moving average of $24.72 and a 200-day simple moving average of $25.58. The stock has a market cap of $9.32 billion, a price-to-earnings ratio of -15.18 and a beta of 1.62. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31.

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.