AST SpaceMobile (NASDAQ:ASTS) Shares Up 5.2%

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares were up 5.2% on Friday . The company traded as high as $12.63 and last traded at $12.52. Approximately 2,333,191 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 7,441,362 shares. The stock had previously closed at $11.90.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. UBS Group boosted their price objective on shares of AST SpaceMobile from $7.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Scotiabank increased their target price on AST SpaceMobile from $7.40 to $12.90 and gave the company a “sector outperform” rating in a report on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target 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 Up 9.4 %

The firm’s 50 day moving average is $7.95 and its 200-day moving average is $4.88. The firm has a market cap of $3.35 billion, a PE ratio of -12.78 and a beta of 1.61. The company has a quick ratio of 7.51, a current ratio of 7.51 and a debt-to-equity ratio of 0.56.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.16) earnings per share (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. As a group, equities research analysts expect that AST SpaceMobile, Inc. will post -0.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AST SpaceMobile

Several hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. purchased a new position in AST SpaceMobile in the 4th quarter worth approximately $65,000. Cantor Fitzgerald L. P. acquired a new stake in AST SpaceMobile during the 4th quarter valued at $66,000. Rathbones Group PLC purchased a new stake in AST SpaceMobile during the 4th quarter worth $76,000. BNP Paribas acquired a new position in AST SpaceMobile in the 1st quarter worth $43,000. Finally, Principal Financial Group Inc. purchased a new position in AST SpaceMobile in the 1st quarter valued at about $45,000. 60.95% of the stock is currently owned by hedge funds and other 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.