AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) shares were up 0.5% on Monday . The company traded as high as $10.77 and last traded at $10.13. 2,853,573 shares were traded during trading, a decline of 61% from the average session volume of 7,405,930 shares. The stock had previously closed at $10.08.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on ASTS shares. Deutsche Bank Aktiengesellschaft dropped their price target on AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Scotiabank raised their target price on AST SpaceMobile from $7.40 to $12.90 and gave the stock a “sector outperform” rating in a research report on Thursday, May 30th. Finally, UBS Group upped their price target on shares of AST SpaceMobile from $7.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, June 10th.
View Our Latest Stock Analysis on ASTS
AST SpaceMobile Price Performance
AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last released its quarterly earnings results on Wednesday, May 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.02. The company had revenue of $0.50 million for the quarter, compared to the consensus estimate of $3.00 million. Research analysts anticipate that AST SpaceMobile, Inc. will post -0.66 earnings per share for the current year.
Hedge Funds Weigh In On AST SpaceMobile
Hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. purchased a new position in shares of AST SpaceMobile during the 4th quarter valued at $65,000. Cantor Fitzgerald L. P. purchased a new position in shares of AST SpaceMobile in the fourth quarter valued at about $66,000. Rathbones Group PLC bought a new position in shares of AST SpaceMobile in the fourth quarter worth about $76,000. BNP Paribas purchased a new stake in shares of AST SpaceMobile during the first quarter worth about $43,000. Finally, Principal Financial Group Inc. bought a new stake in AST SpaceMobile during the 1st quarter valued at approximately $45,000. 60.95% of the stock is currently owned by 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.
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