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

AST SpaceMobile, Inc. (NASDAQ:ASTS) rose 4.1% during trading on Wednesday . The stock traded as high as $11.31 and last traded at $11.16. Approximately 1,583,607 shares were traded 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.

Wall Street Analysts Forecast Growth

ASTS has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. UBS Group increased their price objective on AST SpaceMobile from $7.00 to $13.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, Scotiabank increased their price target on AST SpaceMobile from $7.40 to $12.90 and gave the company a “sector outperform” rating in a research note on Thursday, May 30th.

AST SpaceMobile Trading Up 7.2 %

The business has a 50 day moving average of $6.60 and a two-hundred day moving average of $4.56. 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 firm has a market cap of $2.96 billion, a P/E ratio of -11.61 and a beta of 1.61.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings data on Wednesday, May 15th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.02. The firm had revenue of $0.50 million for the quarter, compared to the consensus estimate of $3.00 million. Analysts predict that AST SpaceMobile, Inc. will post -0.66 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in AST SpaceMobile during the 4th quarter worth $259,000. PNC Financial Services Group Inc. increased its position in shares of AST SpaceMobile by 319.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 163,296 shares of the company’s stock worth $985,000 after purchasing an additional 124,322 shares during the period. Hudson Bay Capital Management LP increased its position in shares of AST SpaceMobile by 31.3% in the third quarter. Hudson Bay Capital Management LP now owns 1,051,615 shares of the company’s stock worth $3,996,000 after purchasing an additional 250,389 shares during the period. Broad Run Investment Management LLC increased its position in shares of AST SpaceMobile by 74.8% in the fourth quarter. Broad Run Investment Management LLC now owns 3,962,853 shares of the company’s stock worth $23,896,000 after purchasing an additional 1,695,805 shares during the period. Finally, Cantor Fitzgerald L. P. bought a new position in shares of AST SpaceMobile in the fourth quarter worth $66,000. 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.