AST SpaceMobile (NASDAQ:ASTS) Trading 3% Higher

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

Analysts Set New Price Targets

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

AST SpaceMobile Price Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.31 and a current ratio of 2.31. The stock’s 50-day moving average price is $2.88 and its 200-day moving average price is $3.74.

Institutional Trading of AST SpaceMobile

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its stake in shares of AST SpaceMobile by 357.3% during the 3rd quarter. Royal Bank of Canada now owns 3,576 shares of the company’s stock valued at $26,000 after buying an additional 2,794 shares during the period. UBS Group AG boosted its position in AST SpaceMobile by 45.3% during the 1st quarter. UBS Group AG now owns 4,222 shares of the company’s stock worth $42,000 after purchasing an additional 1,316 shares during the period. Tower Research Capital LLC TRC boosted its position in AST SpaceMobile by 1,831.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 5,890 shares of the company’s stock worth $30,000 after purchasing an additional 5,585 shares during the period. Raymond James & Associates purchased a new stake in AST SpaceMobile during the 1st quarter worth $102,000. Finally, Millennium Management LLC purchased a new stake in AST SpaceMobile during the 2nd quarter worth $65,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

About AST SpaceMobile

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.