AST SpaceMobile (NASDAQ:ASTS) Hits New 52-Week High at $12.56

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $12.56 and last traded at $12.27, with a volume of 2141558 shares trading hands. The stock had previously closed at $11.61.

Wall Street Analysts Forecast Growth

ASTS has been the topic of a number of recent analyst reports. Scotiabank lifted 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 note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Finally, UBS Group lifted their price objective on shares of AST SpaceMobile from $7.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, June 10th.

AST SpaceMobile Trading Down 1.1 %

The business has a fifty day moving average of $6.60 and a 200-day moving average of $4.56. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of -10.94 and a beta of 1.61. The company has a debt-to-equity ratio of 0.56, a current ratio of 7.51 and a quick ratio of 7.51.

AST SpaceMobile (NASDAQ:ASTS) last released 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 for the quarter, compared to analyst estimates of $3.00 million. On average, equities analysts anticipate that AST SpaceMobile, Inc. will post -0.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ASTS. Janus Henderson Group PLC grew its holdings in AST SpaceMobile by 209.9% during the first quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock worth $21,606,000 after acquiring an additional 5,046,667 shares during the period. Vanguard Group Inc. increased its stake in AST SpaceMobile by 49.9% in the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock worth $19,325,000 after purchasing an additional 2,217,531 shares in the last quarter. Broad Run Investment Management LLC increased its stake in AST SpaceMobile by 74.8% in the 4th 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 in the last quarter. Masters Capital Management LLC purchased a new position in AST SpaceMobile in the 1st quarter worth about $2,900,000. Finally, Hudson Bay Capital Management LP increased its stake in AST SpaceMobile by 31.3% in the 3rd 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 in the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.

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.