AST SpaceMobile (NASDAQ:ASTS) Trading Down 3.1%

AST SpaceMobile, Inc. (NASDAQ:ASTSGet Free Report)’s stock price dropped 3.1% on Wednesday . The company traded as low as $10.91 and last traded at $11.39. Approximately 16,022,839 shares traded hands during mid-day trading, a decline of 4% from the average daily volume of 16,740,541 shares. The stock had previously closed at $11.75.

Analysts Set New Price Targets

ASTS has been the subject of a number of analyst reports. Scotiabank boosted their price objective on shares of AST SpaceMobile from $7.40 to $12.90 and gave the company a “sector outperform” rating in a research report on Thursday, May 30th. UBS Group boosted their price objective 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. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd.

Check Out Our Latest Report on AST SpaceMobile

AST SpaceMobile Stock Down 3.1 %

The company has a debt-to-equity ratio of 0.56, a current ratio of 7.51 and a quick ratio of 7.51. The firm’s 50-day moving average is $4.82 and its 200 day moving average is $4.15. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of -11.62 and a beta of 1.57.

AST SpaceMobile (NASDAQ:ASTSGet Free Report) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.02. The company had revenue of $0.50 million for the quarter, compared to analyst estimates of $3.00 million. Sell-side analysts anticipate that AST SpaceMobile, Inc. will post -0.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AST SpaceMobile

Large investors have recently made changes to their positions in the business. BNP Paribas acquired a new stake in shares of AST SpaceMobile in the first quarter worth $43,000. Principal Financial Group Inc. acquired a new stake in shares of AST SpaceMobile in the first quarter worth $45,000. Summit Trail Advisors LLC acquired a new stake in shares of AST SpaceMobile in the first quarter worth $47,000. Victory Capital Management Inc. acquired a new stake in shares of AST SpaceMobile in the fourth quarter worth $65,000. Finally, Cantor Fitzgerald L. P. acquired a new stake in shares of AST SpaceMobile in the fourth quarter worth $66,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

About AST SpaceMobile

(Get Free Report)

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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