AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 14.5% on Analyst Upgrade

AST SpaceMobile, Inc. (NASDAQ:ASTS) rose 14.5% during trading on Wednesday after Scotiabank raised their price target on the stock from $40.20 to $47.90. Scotiabank currently has a sector outperform rating on the stock. AST SpaceMobile traded as high as $32.91 and last traded at $32.77. Approximately 11,653,793 shares were traded during mid-day trading, a decline of 4% from the average daily volume of 12,194,281 shares. The stock had previously closed at $28.61.

ASTS has been the topic of a number of other reports. Cantor Fitzgerald reissued an “overweight” rating and set a $30.00 price target on shares of AST SpaceMobile in a research report on Tuesday. UBS Group lifted their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $41.58.

Institutional Trading of AST SpaceMobile

Large investors have recently added to or reduced their stakes in the stock. Amalgamated Bank lifted its position in shares of AST SpaceMobile by 17.4% during the 3rd quarter. Amalgamated Bank now owns 4,578 shares of the company’s stock valued at $120,000 after buying an additional 679 shares during the last quarter. Xponance Inc. raised its stake in AST SpaceMobile by 8.7% in the 4th quarter. Xponance Inc. now owns 9,676 shares of the company’s stock valued at $204,000 after acquiring an additional 772 shares during the period. Hollencrest Capital Management purchased a new stake in AST SpaceMobile during the third quarter valued at about $26,000. CIBC Private Wealth Group LLC boosted its position in AST SpaceMobile by 106.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock worth $53,000 after purchasing an additional 1,222 shares during the period. Finally, Americana Partners LLC increased its stake in shares of AST SpaceMobile by 5.2% in the fourth quarter. Americana Partners LLC now owns 27,047 shares of the company’s stock worth $571,000 after purchasing an additional 1,326 shares in the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Trading Up 13.5 %

The company has a market cap of $9.41 billion, a P/E ratio of -15.30 and a beta of 1.62. 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’s 50-day moving average price is $24.36 and its 200-day moving average price is $25.47.

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.