AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 3,917,732 shares traded hands during mid-day trading, a decline of 48% from the previous session’s volume of 7,509,456 shares.The stock last traded at $17.58 and had previously closed at $16.64.
Wall Street Analysts Forecast Growth
ASTS has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. UBS Group increased their price target on AST SpaceMobile from $7.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, Scotiabank raised 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.
Read Our Latest Research Report on AST SpaceMobile
AST SpaceMobile Trading Up 13.6 %
AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last released its earnings results on Wednesday, May 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The firm had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $3.00 million. Equities research analysts predict that AST SpaceMobile, Inc. will post -0.65 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of ASTS. Bank of New York Mellon Corp increased its position in AST SpaceMobile by 56.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 472,769 shares of the company’s stock worth $5,489,000 after purchasing an additional 170,440 shares in the last quarter. Byrne Asset Management LLC acquired a new stake in AST SpaceMobile during the 2nd quarter worth approximately $240,000. MBE Wealth Management LLC boosted its holdings in AST SpaceMobile by 34.1% in the 2nd quarter. MBE Wealth Management LLC now owns 27,000 shares of the company’s stock worth $313,000 after acquiring an additional 6,870 shares during the period. Calton & Associates Inc. purchased a new position in AST SpaceMobile in the 2nd quarter worth approximately $128,000. Finally, Accordant Advisory Group Inc boosted its holdings in AST SpaceMobile by 2.0% in the 2nd quarter. Accordant Advisory Group Inc now owns 162,823 shares of the company’s stock worth $1,890,000 after acquiring an additional 3,146 shares during the period. Institutional investors and hedge funds own 60.95% of the company’s stock.
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.
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