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

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares shot up 0.5% during 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 traded 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 analysts also recently commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 target price on shares of AST SpaceMobile in a research report on Tuesday. Scotiabank boosted their target price on AST SpaceMobile from $40.20 to $47.90 and gave the stock a “sector outperform” rating in a report on Wednesday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $42.98.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in AST SpaceMobile by 49.4% during the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company’s stock worth $316,233,000 after acquiring an additional 4,955,941 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in AST SpaceMobile in the 4th quarter worth $59,523,000. Privium Fund Management B.V. bought a new position in shares of AST SpaceMobile during the 3rd quarter worth about $21,476,000. Charles Schwab Investment Management Inc. raised its position in shares of AST SpaceMobile by 228.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,131,705 shares of the company’s stock valued at $29,594,000 after buying an additional 787,566 shares during the last quarter. Finally, State Street Corp lifted its stake in shares of AST SpaceMobile by 14.8% in the third quarter. State Street Corp now owns 3,091,577 shares of the company’s stock valued at $80,845,000 after buying an additional 399,713 shares during the period. 60.95% of the stock is owned by institutional investors.

AST SpaceMobile Trading Up 0.5 %

The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $9.85 billion, a price-to-earnings ratio of -16.02 and a beta of 1.62. The business has a 50-day moving average of $24.57 and a two-hundred day moving average of $25.53.

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.