AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 3.6%

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) traded up 3.6% on Friday . The company traded as high as $11.86 and last traded at $11.86. 1,933,885 shares were traded during trading, a decline of 74% from the average session volume of 7,398,573 shares. The stock had previously closed at $11.45.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Scotiabank lifted their price target on AST SpaceMobile from $7.40 to $12.90 and gave the company a “sector outperform” rating in a report on Thursday, May 30th. UBS Group lifted their price target on AST SpaceMobile from $7.00 to $13.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, 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 research note on Wednesday, April 3rd.

AST SpaceMobile Stock Up 1.6 %

The business has a 50 day simple moving average of $6.06 and a 200 day simple moving average of $4.45. 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 stock has a market cap of $3.00 billion, a PE ratio of -11.67 and a beta of 1.57.

AST SpaceMobile (NASDAQ:ASTS) last issued its earnings results on Wednesday, May 15th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The firm had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $3.00 million. On average, equities research analysts forecast that AST SpaceMobile, Inc. will post -0.66 EPS for the current fiscal year.

Institutional Trading of AST SpaceMobile

Several large investors have recently made changes to their positions in the stock. Janus Henderson Group PLC boosted its stake in shares of AST SpaceMobile by 209.9% during the 1st 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 in the last quarter. Black Maple Capital Management LP bought a new stake in shares of AST SpaceMobile during the 1st quarter worth about $87,000. Masters Capital Management LLC acquired a new position in shares of AST SpaceMobile during the 1st quarter worth about $2,900,000. Price T Rowe Associates Inc. MD lifted its position in shares of AST SpaceMobile by 71.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 55,335 shares of the company’s stock worth $161,000 after purchasing an additional 22,987 shares during the last quarter. Finally, Natixis lifted its position in shares of AST SpaceMobile by 62.2% during the 1st quarter. Natixis now owns 55,863 shares of the company’s stock worth $162,000 after purchasing an additional 21,430 shares during the last quarter. Institutional investors 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.