AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 3%

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price shot up 3% on Wednesday . The company traded as high as $2.10 and last traded at $2.08. 537,128 shares were traded during mid-day trading, a decline of 88% from the average session volume of 4,430,538 shares. The stock had previously closed at $2.02.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ASTS. Deutsche Bank Aktiengesellschaft reduced their price target on shares of AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. UBS Group began coverage on shares of AST SpaceMobile in a report on Friday, March 8th. They set a “buy” rating and a $7.00 price objective for the company. Finally, Scotiabank reduced their price objective on shares of AST SpaceMobile from $7.50 to $7.40 and set a “sector outperform” rating for the company in a report on Tuesday, April 2nd.

AST SpaceMobile Stock Down 2.8 %

The business’s fifty day moving average price is $2.84 and its 200 day moving average price is $3.72. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.28.

Hedge Funds Weigh In On AST SpaceMobile

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in AST SpaceMobile by 273.3% during the 2nd quarter. BlackRock Inc. now owns 4,009,576 shares of the company’s stock valued at $18,845,000 after purchasing an additional 2,935,470 shares during the last quarter. Broad Run Investment Management LLC lifted its holdings in AST SpaceMobile by 74.8% during the 4th quarter. Broad Run Investment Management LLC now owns 3,962,853 shares of the company’s stock valued at $23,896,000 after purchasing an additional 1,695,805 shares during the last quarter. Polar Asset Management Partners Inc. lifted its holdings in AST SpaceMobile by 134.2% during the 2nd quarter. Polar Asset Management Partners Inc. now owns 1,745,399 shares of the company’s stock valued at $8,203,000 after purchasing an additional 1,000,000 shares during the last quarter. Two Sigma Investments LP lifted its holdings in AST SpaceMobile by 1,349.0% during the 4th quarter. Two Sigma Investments LP now owns 1,003,817 shares of the company’s stock valued at $4,838,000 after purchasing an additional 934,539 shares during the last quarter. Finally, State Street Corp lifted its holdings in AST SpaceMobile by 448.5% during the 2nd quarter. State Street Corp now owns 1,085,398 shares of the company’s stock valued at $5,101,000 after purchasing an additional 887,531 shares during the last quarter. 60.95% of the stock is owned by institutional investors.

AST SpaceMobile Company Profile

AST SpaceMobile, Inc, together with its subsidiaries, operates space-based cellular broadband network for mobile phones in the United States. Its SpaceMobile service provides mobile broadband services to end-users who are out of terrestrial cellular coverage. AST SpaceMobile, Inc was founded in 2017 and is based in Midland, Texas.