AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 7.4%

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price rose 7.4% during mid-day trading on Monday . The company traded as high as $11.56 and last traded at $10.98. Approximately 5,966,551 shares were traded during trading, a decline of 17% from the average daily volume of 7,184,970 shares. The stock had previously closed at $10.22.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. UBS Group boosted their target price on AST SpaceMobile from $7.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Scotiabank upped their price objective on shares of AST SpaceMobile from $7.40 to $12.90 and gave the stock a “sector outperform” rating in a report on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft cut their target price 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.

AST SpaceMobile Stock Performance

The company has a 50 day moving average of $4.45 and a two-hundred day moving average of $4.06. 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 market capitalization of $3.10 billion, a PE ratio of -11.20 and a beta of 1.54.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.02. The business had revenue of $0.50 million during the quarter, compared to the consensus estimate of $3.00 million. As a group, equities research analysts predict that AST SpaceMobile, Inc. will post -0.66 earnings per share for the current year.

Institutional Investors Weigh In On AST SpaceMobile

A number of institutional investors have recently modified their holdings of ASTS. BNP Paribas purchased a new position in AST SpaceMobile in the 1st quarter worth approximately $43,000. Principal Financial Group Inc. purchased a new stake in shares of AST SpaceMobile during the 1st quarter valued at about $45,000. Summit Trail Advisors LLC bought a new stake in shares of AST SpaceMobile in the first quarter worth approximately $47,000. Victory Capital Management Inc. purchased a new position in shares of AST SpaceMobile during the fourth quarter valued at approximately $65,000. Finally, Cantor Fitzgerald L. P. bought a new position in AST SpaceMobile during the fourth quarter valued at approximately $66,000. 60.95% of the stock is 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.