AST SpaceMobile (NASDAQ:ASTS) Shares Up 1.6%

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) traded up 1.6% on Monday . The stock traded as high as $22.08 and last traded at $21.55. 3,688,912 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 8,014,438 shares. The stock had previously closed at $21.21.

Wall Street Analysts Forecast Growth

ASTS has been the topic of a number of recent research reports. Scotiabank upped their target price on shares of 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 upped their price objective on shares of AST SpaceMobile from $7.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, June 10th.

AST SpaceMobile Stock Down 7.1 %

The company has a market cap of $5.08 billion, a PE ratio of -21.99 and a beta of 1.61. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.51 and a current ratio of 7.51. The firm has a fifty day simple moving average of $13.20 and a 200 day simple moving average of $6.66.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly 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 during the quarter, compared to analyst estimates of $3.00 million. Equities research analysts predict that AST SpaceMobile, Inc. will post -0.65 EPS for the current year.

Institutional Trading of AST SpaceMobile

Several large investors have recently added to or reduced their stakes in the stock. BNP Paribas purchased a new stake in shares of AST SpaceMobile in the first quarter worth about $43,000. Principal Financial Group Inc. acquired a new stake in AST SpaceMobile in the first quarter valued at approximately $45,000. Summit Trail Advisors LLC purchased a new stake in shares of AST SpaceMobile during the first quarter valued at approximately $47,000. Victory Capital Management Inc. acquired a new position in shares of AST SpaceMobile during the fourth quarter worth $65,000. Finally, Cantor Fitzgerald L. P. acquired a new position in shares of AST SpaceMobile during the fourth quarter worth $66,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.