AST SpaceMobile Inc (NASDAQ:ASTS) stock is up 5.8% to trade at $53.96 this morning, after Deutsche Bank upgraded the satellite name to "buy" from "hold" and reiterated its price target at $93. The analyst in coverage sees ASTS as undervalued compared to the potential of its spectrum assets.
On Friday, AST stock logged its lowest close in nearly a year, after SpaceX's (SPCX) Grain acquisition dinged the sector peer. Prior to today's gap higher, the shares had finished lower in eight of the last 10 sessions, racking up their year-to-date deficit to 30%. The round-number $50 level seems to have held, an area that stepped up back in November.
The high beta growth name remains a favorite of short sellers. Short interest is up 13.5% in the most recent reporting period, and the 65.26 million shares sold short account for 23.6% of ASTS' total available float.
Options are an intriguing route right now. The stock's Schaeffer's Volatility Scorecard (SVI) sits in the 20th percentile of its annual range, indicating meaning options traders are pricing in low volatility expectations at the moment.
