AST SpaceMobile (NASDAQ:ASTS) Trading Down 0.7%

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares traded down 0.7% during mid-day trading on Monday . The company traded as low as $12.42 and last traded at $12.75. 1,924,239 shares were traded during mid-day trading, a decline of 74% from the average session volume of 7,413,728 shares. The stock had previously closed at $12.84.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. UBS Group increased their target price on AST SpaceMobile from $7.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Scotiabank raised 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, Deutsche Bank Aktiengesellschaft dropped their price objective 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 Trading Down 0.3 %

The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.51 and a current ratio of 7.51. The firm has a 50 day simple moving average of $9.24 and a two-hundred day simple moving average of $5.17. The firm has a market capitalization of $3.30 billion, a P/E ratio of -13.01 and a beta of 1.61.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings data on Wednesday, May 15th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.02. The company had revenue of $0.50 million for the quarter, compared to the consensus estimate of $3.00 million. Equities research analysts forecast that AST SpaceMobile, Inc. will post -0.66 earnings per share for the current year.

Institutional Investors Weigh In On AST SpaceMobile

Several large investors have recently made changes to their positions in the business. Accordant Advisory Group Inc increased its position in shares of AST SpaceMobile by 2.0% during the 2nd quarter. Accordant Advisory Group Inc now owns 162,823 shares of the company’s stock valued at $1,890,000 after purchasing an additional 3,146 shares during the last quarter. MBE Wealth Management LLC increased its holdings in AST SpaceMobile by 34.1% in the 2nd quarter. MBE Wealth Management LLC now owns 27,000 shares of the company’s stock worth $313,000 after acquiring an additional 6,870 shares during the last quarter. Victory Capital Management Inc. purchased a new stake in AST SpaceMobile in the 4th quarter worth about $65,000. Cantor Fitzgerald L. P. purchased a new stake in AST SpaceMobile in the 4th quarter worth about $66,000. Finally, Calton & Associates Inc. purchased a new stake in AST SpaceMobile in the 2nd quarter worth about $128,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

About AST SpaceMobile

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.