AST SpaceMobile (NASDAQ:ASTS) Shares Gap Up – Here’s What Happened

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $17.72, but opened at $18.52. AST SpaceMobile shares last traded at $18.57, with a volume of 2,148,366 shares.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. UBS Group raised their price target on AST SpaceMobile from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Scotiabank cut their target price on shares of AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating on the stock in a report on Friday, January 24th.

AST SpaceMobile Stock Up 11.1 %

The business has a fifty day moving average of $22.45 and a 200 day moving average of $23.96. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.80 and a current ratio of 5.80.

Hedge Funds Weigh In On AST SpaceMobile

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. purchased a new stake in AST SpaceMobile in the second quarter worth $728,000. Marshall Wace LLP grew its position in shares of AST SpaceMobile by 150.4% in the 2nd quarter. Marshall Wace LLP now owns 126,685 shares of the company’s stock worth $1,471,000 after buying an additional 76,088 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of AST SpaceMobile by 31.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,209 shares of the company’s stock worth $595,000 after acquiring an additional 12,391 shares in the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of AST SpaceMobile in the 2nd quarter worth about $278,000. Finally, Miracle Mile Advisors LLC purchased a new position in AST SpaceMobile during the 3rd quarter valued at about $328,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

About AST SpaceMobile

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.