Traders Purchase High Volume of AST SpaceMobile Call Options (NASDAQ:ASTS)

AST SpaceMobile, Inc. (NASDAQ:ASTS) was the target of unusually large options trading on Wednesday. Stock investors purchased 95,802 call options on the stock. This represents an increase of 55% compared to the typical volume of 61,696 call options.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. UBS Group boosted their price objective on AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday. B. Riley boosted their price objective on AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Finally, Scotiabank boosted their price objective on AST SpaceMobile from $28.00 to $45.90 and gave the stock a “sector outperform” rating in a research report on Monday, August 26th.

AST SpaceMobile Stock Performance

ASTS opened at $33.08 on Thursday. The company has a market capitalization of $8.52 billion, a price-to-earnings ratio of -33.76 and a beta of 1.61. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38. AST SpaceMobile has a 1-year low of $1.97 and a 1-year high of $39.08. The business has a 50 day moving average price of $20.44 and a two-hundred day moving average price of $10.04.

Institutional Investors Weigh In On AST SpaceMobile

A number of institutional investors have recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. bought a new position in shares of AST SpaceMobile in the second quarter valued at $278,000. Scientech Research LLC bought a new position in shares of AST SpaceMobile in the second quarter valued at $774,000. Sender Co & Partners Inc. bought a new position in shares of AST SpaceMobile in the second quarter valued at $177,000. The Manufacturers Life Insurance Company increased its holdings in shares of AST SpaceMobile by 31.9% in the second quarter. The Manufacturers Life Insurance Company now owns 51,209 shares of the company’s stock valued at $595,000 after buying an additional 12,391 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in AST SpaceMobile by 150.4% during the 2nd quarter. Marshall Wace LLP now owns 126,685 shares of the company’s stock valued at $1,471,000 after purchasing an additional 76,088 shares during the period. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.