AST SpaceMobile (NASDAQ:ASTS) Trading 1% Higher

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares rose 1% during trading on Monday . The company traded as high as $12.60 and last traded at $11.73. Approximately 4,331,989 shares traded hands during trading, a decline of 42% from the average daily volume of 7,465,801 shares. The stock had previously closed at $11.61.

Analysts Set New Price Targets

A number of research firms have issued reports on ASTS. Scotiabank increased their target price on shares of AST SpaceMobile from $7.40 to $12.90 and gave the stock a “sector outperform” rating in a research report on Thursday, May 30th. UBS Group upped their price target on shares of AST SpaceMobile from $7.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd.

AST SpaceMobile Stock Down 5.9 %

The stock has a market cap of $2.81 billion, a price-to-earnings ratio of -11.97 and a beta of 1.61. The business has a fifty day moving average of $6.25 and a 200 day moving average of $4.48. The company has a debt-to-equity ratio of 0.56, a current ratio of 7.51 and a quick ratio of 7.51.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.02. The business had revenue of $0.50 million for the quarter, compared to analyst estimates of $3.00 million. On average, equities analysts predict that AST SpaceMobile, Inc. will post -0.66 earnings per share for the current year.

Institutional Trading of AST SpaceMobile

Large investors have recently made changes to their positions in the stock. Hudson Bay Capital Management LP raised its holdings in AST SpaceMobile by 31.3% in the 3rd quarter. Hudson Bay Capital Management LP now owns 1,051,615 shares of the company’s stock worth $3,996,000 after acquiring an additional 250,389 shares during the period. Salvus Wealth Management LLC raised its stake in shares of AST SpaceMobile by 351.1% in the 4th quarter. Salvus Wealth Management LLC now owns 113,182 shares of the company’s stock valued at $682,000 after buying an additional 88,092 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of AST SpaceMobile during the 4th quarter worth about $115,000. Van ECK Associates Corp acquired a new stake in shares of AST SpaceMobile during the 4th quarter valued at about $246,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of AST SpaceMobile during the 4th quarter valued at about $65,000. Institutional investors own 60.95% of the company’s stock.

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.