AST SpaceMobile (NASDAQ:ASTS) Shares Gap Down to $11.23

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $11.23, but opened at $10.92. AST SpaceMobile shares last traded at $11.58, with a volume of 991,663 shares.

Wall Street Analysts Forecast Growth

ASTS has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Scotiabank raised their price objective on AST SpaceMobile from $7.40 to $12.90 and gave the stock a “sector outperform” rating in a research report on Thursday, May 30th. Finally, UBS Group raised 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 stock has a 50 day moving average price of $5.88 and a two-hundred day moving average price of $4.40. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.51 and a current ratio of 7.51.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings results 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 firm had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $3.00 million. On average, research analysts forecast that AST SpaceMobile, Inc. will post -0.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Janus Henderson Group PLC increased its position in AST SpaceMobile by 209.9% in the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock worth $21,606,000 after buying an additional 5,046,667 shares during the period. Vanguard Group Inc. increased its position in shares of AST SpaceMobile by 49.9% during the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after purchasing an additional 2,217,531 shares during the period. Broad Run Investment Management LLC increased its position in shares of AST SpaceMobile by 74.8% during the fourth quarter. Broad Run Investment Management LLC now owns 3,962,853 shares of the company’s stock valued at $23,896,000 after purchasing an additional 1,695,805 shares during the period. Masters Capital Management LLC bought a new stake in shares of AST SpaceMobile during the first quarter valued at approximately $2,900,000. Finally, Hudson Bay Capital Management LP increased its position in shares of AST SpaceMobile by 31.3% during the third quarter. Hudson Bay Capital Management LP now owns 1,051,615 shares of the company’s stock valued at $3,996,000 after purchasing an additional 250,389 shares during the period. 60.95% of the stock is owned by 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.