AST SpaceMobile (NASDAQ:ASTS) Trading Up 1%

AST SpaceMobile, Inc. (NASDAQ:ASTS) shot up 1% on Monday . The company traded as high as $12.60 and last traded at $11.73. 4,331,989 shares were traded during mid-day trading, a decline of 42% from the average session volume of 7,465,801 shares. The stock had previously closed at $11.61.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ASTS. Deutsche Bank Aktiengesellschaft reduced their price objective on AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, April 3rd. Scotiabank boosted their price objective 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. Finally, UBS Group upped their price target on AST SpaceMobile from $7.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, June 10th.

AST SpaceMobile Price Performance

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 company has a 50 day moving average price of $6.60 and a 200 day moving average price of $4.56. The firm has a market cap of $2.76 billion, a PE ratio of -10.94 and a beta of 1.61.

AST SpaceMobile (NASDAQ:ASTS) last announced 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 analyst estimates of $3.00 million. Sell-side analysts expect that AST SpaceMobile, Inc. will post -0.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas acquired a new stake in AST SpaceMobile in the first quarter valued at $43,000. Principal Financial Group Inc. acquired a new stake in AST SpaceMobile in the first quarter valued at $45,000. Summit Trail Advisors LLC acquired a new stake in AST SpaceMobile in the first quarter valued at $47,000. Victory Capital Management Inc. acquired a new stake in AST SpaceMobile in the fourth quarter valued at $65,000. Finally, Cantor Fitzgerald L. P. acquired a new stake in AST SpaceMobile in the fourth quarter valued at $66,000. Institutional investors and hedge funds 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.