AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 4.1%

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price rose 4.1% during mid-day trading on Wednesday . The stock traded as high as $11.31 and last traded at $11.16. Approximately 1,583,607 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 7,470,619 shares. The stock had previously closed at $10.72.

Analyst Ratings Changes

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their target price on AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd. UBS Group raised their price objective on AST SpaceMobile from $7.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, Scotiabank raised their price objective 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.

AST SpaceMobile Price Performance

The company has a current ratio of 7.51, a quick ratio of 7.51 and a debt-to-equity ratio of 0.56. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of -11.61 and a beta of 1.61. The stock has a 50-day moving average price of $6.60 and a two-hundred day moving average price of $4.56.

AST SpaceMobile (NASDAQ:ASTS) last issued its earnings results on Wednesday, May 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping 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. As a group, equities research analysts forecast that AST SpaceMobile, Inc. will post -0.66 EPS for the current year.

Hedge Funds Weigh In On AST SpaceMobile

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised its stake in shares of 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 during the last quarter. Vanguard Group Inc. raised its stake in shares of AST SpaceMobile by 49.9% during the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after buying an additional 2,217,531 shares during the last quarter. Broad Run Investment Management LLC raised its stake in shares of AST SpaceMobile by 74.8% during the 4th quarter. Broad Run Investment Management LLC now owns 3,962,853 shares of the company’s stock valued at $23,896,000 after buying an additional 1,695,805 shares during the last quarter. Masters Capital Management LLC purchased a new position in shares of AST SpaceMobile during the 1st quarter valued at about $2,900,000. Finally, Hudson Bay Capital Management LP raised its stake in shares of AST SpaceMobile by 31.3% during the 3rd quarter. Hudson Bay Capital Management LP now owns 1,051,615 shares of the company’s stock valued at $3,996,000 after buying an additional 250,389 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.