AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report)’s stock price traded up 3.6% on Friday . The stock traded as high as $11.86 and last traded at $11.86. 1,933,885 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 7,398,573 shares. The stock had previously closed at $11.45.
Analysts Set New Price Targets
ASTS has been the subject of several research reports. UBS Group upped 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. Deutsche Bank Aktiengesellschaft cut their price target on AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Finally, Scotiabank boosted their price objective on AST SpaceMobile from $7.40 to $12.90 and gave the stock a “sector outperform” rating in a research note on Thursday, May 30th.
Check Out Our Latest Stock Report on AST SpaceMobile
AST SpaceMobile Stock Up 1.4 %
AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last announced its quarterly 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. As a group, analysts anticipate that AST SpaceMobile, Inc. will post -0.66 earnings per share for the current fiscal year.
Institutional Investors Weigh In On AST SpaceMobile
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASTS. Victory Capital Management Inc. acquired a new position in shares of AST SpaceMobile in the 4th quarter valued at $65,000. Cantor Fitzgerald L. P. acquired a new position in AST SpaceMobile in the fourth quarter valued at about $66,000. Rathbones Group PLC acquired a new position in AST SpaceMobile in the fourth quarter valued at about $76,000. BNP Paribas purchased a new position in AST SpaceMobile during the first quarter worth about $43,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of AST SpaceMobile during the first quarter valued at about $45,000. 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.
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