AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 1%

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price rose 1% during mid-day trading on Monday . The stock 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.

Analyst Upgrades and Downgrades

ASTS has been the subject of several recent research reports. Scotiabank lifted their price objective on AST SpaceMobile from $7.40 to $12.90 and gave the stock a “sector outperform” rating in a report on Thursday, May 30th. UBS Group lifted their price objective on AST SpaceMobile from $7.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd.

AST SpaceMobile Trading Down 5.9 %

The firm has a fifty day moving average of $6.25 and a two-hundred day moving average of $4.48. The company has a market cap of $2.81 billion, a PE ratio of -11.97 and a beta of 1.61. The company has a current ratio of 7.51, a quick ratio of 7.51 and a debt-to-equity ratio of 0.56.

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 analysts’ consensus estimates of ($0.18) by $0.02. The company had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $3.00 million. As a group, sell-side analysts predict that AST SpaceMobile, Inc. will post -0.66 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC grew its holdings in AST SpaceMobile by 209.9% during the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock valued at $21,606,000 after buying an additional 5,046,667 shares in the last quarter. Black Maple Capital Management LP bought a new stake in shares of AST SpaceMobile during the 1st quarter valued at about $87,000. Masters Capital Management LLC bought a new stake in shares of AST SpaceMobile during the 1st quarter valued at about $2,900,000. Price T Rowe Associates Inc. MD boosted its position in shares of AST SpaceMobile by 71.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 55,335 shares of the company’s stock valued at $161,000 after acquiring an additional 22,987 shares during the last quarter. Finally, Natixis boosted its position in shares of AST SpaceMobile by 62.2% during the 1st quarter. Natixis now owns 55,863 shares of the company’s stock valued at $162,000 after acquiring an additional 21,430 shares during the last quarter. Hedge funds and other 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.