AST SpaceMobile (NASDAQ:ASTS) Shares Up 0.4%

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price was up 0.4% during trading on Tuesday . The stock traded as high as $10.55 and last traded at $10.37. Approximately 3,293,117 shares changed hands during trading, a decline of 56% from the average daily volume of 7,407,144 shares. The stock had previously closed at $10.33.

Analysts Set New Price Targets

ASTS has been the subject of several recent research reports. Scotiabank increased their price target on AST SpaceMobile from $7.40 to $12.90 and gave the stock a “sector outperform” rating in a report on Thursday, May 30th. UBS Group boosted their price target on shares of AST SpaceMobile from $7.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective 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.

AST SpaceMobile Stock Performance

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’s 50-day simple moving average is $5.88 and its 200 day simple moving average is $4.40.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings results on Wednesday, May 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. Analysts forecast that AST SpaceMobile, Inc. will post -0.66 EPS for the current year.

Hedge Funds Weigh In On AST SpaceMobile

Several hedge funds have recently added to or reduced their stakes in ASTS. BNP Paribas purchased a new position in shares of AST SpaceMobile during the 1st quarter worth approximately $43,000. Principal Financial Group Inc. acquired a new stake in AST SpaceMobile during the 1st quarter valued at $45,000. Summit Trail Advisors LLC purchased a new position in AST SpaceMobile during the first quarter worth $47,000. Victory Capital Management Inc. acquired a new position in shares of AST SpaceMobile in the fourth quarter worth $65,000. Finally, Cantor Fitzgerald L. P. purchased a new stake in shares of AST SpaceMobile in the fourth quarter valued at $66,000. 60.95% of the stock is currently owned by hedge funds and other institutional investors.

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.