AST SpaceMobile, Inc. (NASDAQ:ASTS) Short Interest Down 13.3% in June

AST SpaceMobile, Inc. (NASDAQ:ASTS) was the recipient of a large decrease in short interest in the month of June. As of June 15th, there was short interest totalling 25,390,000 shares, a decrease of 13.3% from the May 31st total of 29,300,000 shares. Approximately 21.1% of the shares of the company are sold short. Based on an average daily volume of 9,920,000 shares, the short-interest ratio is presently 2.6 days.

AST SpaceMobile Price Performance

NASDAQ:ASTS opened at $11.61 on Monday. 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 has a 50-day moving average price of $6.25 and a two-hundred day moving average price of $4.48. AST SpaceMobile has a twelve month low of $1.97 and a twelve month high of $12.45.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings data on Wednesday, May 15th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. The business had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $3.00 million. Analysts expect that AST SpaceMobile will post -0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AST SpaceMobile

Several hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. acquired a new stake in shares of AST SpaceMobile during the fourth quarter valued at $65,000. Cantor Fitzgerald L. P. purchased a new position in AST SpaceMobile in the 4th quarter valued at about $66,000. Rathbones Group PLC acquired a new stake in shares of AST SpaceMobile during the 4th 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. acquired a new position in shares of AST SpaceMobile in the first quarter valued at approximately $45,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ASTS shares. UBS Group boosted their target price on shares of AST SpaceMobile from $7.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Scotiabank increased their target price on shares of AST SpaceMobile from $7.40 to $12.90 and gave the company a “sector outperform” rating in a report on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd.

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.