AST SpaceMobile (NASDAQ:ASTS) Trading Up 0.5% Following Analyst Upgrade

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) traded up 0.5% 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. Approximately 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.

ASTS has been the subject of several other research reports. Scotiabank upped 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. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 price target on shares of AST SpaceMobile in a research note on Tuesday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $42.98.

Hedge Funds Weigh In On AST SpaceMobile

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

AST SpaceMobile Stock Up 0.5 %

The business has a 50 day simple moving average of $24.57 and a 200 day simple moving average of $25.53. 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 stock has a market cap of $9.85 billion, a PE ratio of -16.02 and a beta of 1.62.

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.