AST SpaceMobile (NASDAQ:ASTS) Shares Gap Up – Still a Buy?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price gapped up prior to trading 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 changing hands.

Analyst Ratings Changes

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

AST SpaceMobile Stock Up 3.3 %

The firm has a market cap of $5.93 billion, a price-to-earnings ratio of -9.60 and a beta of 1.64. The business’s 50-day moving average is $23.09 and its 200-day moving average is $23.67. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80.

Institutional Trading of AST SpaceMobile

Several hedge funds have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of AST SpaceMobile by 9.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,267,066 shares of the company’s stock worth $85,450,000 after acquiring an additional 281,749 shares in the last quarter. State Street Corp boosted its stake in AST SpaceMobile by 14.8% in the third quarter. State Street Corp now owns 3,091,577 shares of the company’s stock worth $80,845,000 after purchasing an additional 399,713 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 worth $29,594,000 after purchasing an additional 787,566 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of AST SpaceMobile by 6.0% in the third quarter. Oppenheimer & Co. Inc. now owns 846,072 shares of the company’s stock valued at $22,125,000 after buying an additional 47,600 shares in the last quarter. Finally, Privium Fund Management B.V. bought a new position in shares of AST SpaceMobile in the third quarter valued at about $21,476,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

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.