AST SpaceMobile (NASDAQ:ASTS) Shares Gap Down to $33.08

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $33.08, but opened at $29.15. AST SpaceMobile shares last traded at $26.66, with a volume of 9,979,708 shares.

Wall Street Analyst Weigh In

ASTS has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on AST SpaceMobile from $22.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday. Scotiabank lifted their price objective on AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a research report on Monday, August 26th. UBS Group increased their target price on shares of AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, B. Riley lifted their price target on shares of AST SpaceMobile from $26.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 29th.

AST SpaceMobile Stock Down 8.2 %

The company has a debt-to-equity ratio of 0.83, a quick ratio of 6.38 and a current ratio of 6.38. The firm has a market capitalization of $6.72 billion, a PE ratio of -26.64 and a beta of 1.63. The company has a fifty day moving average price of $21.07 and a 200-day moving average price of $10.33.

Institutional Trading of AST SpaceMobile

A number of large investors have recently made changes to their positions in ASTS. Janus Henderson Group PLC grew its position in AST SpaceMobile by 209.9% in the first quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock worth $21,606,000 after acquiring an additional 5,046,667 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of AST SpaceMobile by 49.9% in the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock worth $19,325,000 after purchasing an additional 2,217,531 shares during the period. Broad Run Investment Management LLC increased its position in shares of 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. Masters Capital Management LLC purchased a new stake in AST SpaceMobile during the 1st quarter valued at $2,900,000. Finally, Oppenheimer & Co. Inc. bought a new stake in AST SpaceMobile in the second quarter worth $9,270,000. 60.95% of the stock is currently owned by institutional investors.

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.