AST SpaceMobile (NASDAQ:ASTS) Shares Up 1.6%

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price rose 1.6% on Monday . The stock traded as high as $22.08 and last traded at $21.55. Approximately 3,688,912 shares changed hands during trading, a decline of 54% from the average daily volume of 8,014,438 shares. The stock had previously closed at $21.21.

Wall Street Analyst Weigh In

Several research firms recently commented on ASTS. Scotiabank increased their price target on AST SpaceMobile from $7.40 to $12.90 and gave the company a “sector outperform” rating in a report on Thursday, May 30th. UBS Group lifted their target price 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.

AST SpaceMobile Stock Down 7.1 %

The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of -21.99 and a beta of 1.61. The business has a 50-day moving average of $13.20 and a 200-day moving average of $6.66. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.51 and a current ratio of 7.51.

AST SpaceMobile (NASDAQ:ASTS) last posted its earnings results on Wednesday, May 15th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.02. The company had revenue of $0.50 million during the quarter, compared to analyst estimates of $3.00 million. On average, sell-side analysts expect that AST SpaceMobile, Inc. will post -0.65 EPS for the current year.

Institutional Trading of AST SpaceMobile

Several hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new stake in AST SpaceMobile during the 4th quarter worth approximately $115,000. Van ECK Associates Corp acquired a new position in shares of AST SpaceMobile in the fourth quarter worth $246,000. Victory Capital Management Inc. purchased a new stake in shares of AST SpaceMobile during the fourth quarter worth $65,000. PNC Financial Services Group Inc. raised its stake in shares of AST SpaceMobile by 319.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 163,296 shares of the company’s stock valued at $985,000 after acquiring an additional 124,322 shares in the last quarter. Finally, IPG Investment Advisors LLC purchased a new position in AST SpaceMobile in the fourth quarter valued at $96,000. Institutional investors and hedge funds 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.