AST SpaceMobile, Inc. (NASDAQ:ASTS) Sees Large Growth in Short Interest

AST SpaceMobile, Inc. (NASDAQ:ASTS) was the recipient of a large growth in short interest in the month of January. As of January 31st, there was short interest totalling 42,740,000 shares, a growth of 30.1% from the January 15th total of 32,850,000 shares. Based on an average daily volume of 10,130,000 shares, the short-interest ratio is currently 4.2 days. Approximately 28.6% of the shares of the company are sold short.

Institutional Investors Weigh In On AST SpaceMobile

Institutional investors and hedge funds have recently modified their holdings of the stock. Hollencrest Capital Management purchased a new position in shares of AST SpaceMobile in the third quarter valued at $26,000. Fairfield Financial Advisors LTD purchased a new position in shares of AST SpaceMobile in the third quarter valued at $26,000. Summit Securities Group LLC purchased a new stake in shares of AST SpaceMobile in the fourth quarter valued at $37,000. Golden State Wealth Management LLC purchased a new position in shares of AST SpaceMobile during the 4th quarter worth about $46,000. Finally, CIBC Private Wealth Group LLC grew its holdings in AST SpaceMobile by 106.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock valued at $53,000 after purchasing an additional 1,222 shares during the last quarter. Institutional investors own 60.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Scotiabank decreased 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 research note on Friday, January 24th. Cantor Fitzgerald assumed coverage on shares of AST SpaceMobile in a research note on Thursday, February 6th. They set an “overweight” rating and a $30.00 target price on the stock. Finally, UBS Group raised their target price on shares of AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $40.04.

AST SpaceMobile Trading Up 6.8 %

Shares of AST SpaceMobile stock traded up $2.05 on Friday, hitting $32.10. 13,985,242 shares of the company traded hands, compared to its average volume of 11,050,126. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. AST SpaceMobile has a 52 week low of $1.97 and a 52 week high of $39.08. The business has a 50-day simple moving average of $23.20 and a 200 day simple moving average of $24.88.

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.