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

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTSGet Free Report) 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.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ASTS shares. UBS Group lifted their price objective on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Scotiabank dropped their price target on shares of AST SpaceMobile from $45.90 to $44.70 and set a “sector outperform” rating for the company in a research note on Friday, November 15th.

Check Out Our Latest Research Report on AST SpaceMobile

AST SpaceMobile Stock Performance

The stock has a market cap of $5.93 billion, a P/E ratio of -9.60 and a beta of 1.64. The stock has a fifty day simple moving average of $23.09 and a 200-day simple moving average of $23.67. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31.

Hedge Funds Weigh In On AST SpaceMobile

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Fairfield Financial Advisors LTD acquired a new stake in AST SpaceMobile during the 3rd quarter worth approximately $26,000. Hollencrest Capital Management acquired a new stake in shares of AST SpaceMobile during the third quarter worth $26,000. Rakuten Securities Inc. bought a new stake in AST SpaceMobile in the 3rd quarter valued at $68,000. Sunbelt Securities Inc. boosted its stake 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 period. Finally, KBC Group NV bought a new position in AST SpaceMobile during the 3rd quarter worth about $104,000. 60.95% of the stock is owned by institutional investors.

About AST SpaceMobile

(Get Free Report)

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.

Further Reading

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