AST SpaceMobile (NASDAQ:ASTS) Shares Up 3.1%

AST SpaceMobile, Inc. (NASDAQ:ASTS) rose 3.1% during mid-day trading on Monday . The company traded as high as $19.95 and last traded at $19.08. Approximately 7,369,062 shares were traded during trading, a decline of 6% from the average daily volume of 7,839,512 shares. The stock had previously closed at $18.51.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. UBS Group boosted their price target on AST SpaceMobile from $7.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Scotiabank upped their price target 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.

AST SpaceMobile Trading Up 0.6 %

The firm has a market cap of $5.06 billion, a PE ratio of -20.04 and a beta of 1.61. The company’s fifty day moving average price is $12.66 and its two-hundred day moving average price is $6.37. The company has a quick ratio of 7.51, a current ratio of 7.51 and a debt-to-equity ratio of 0.56.

AST SpaceMobile (NASDAQ:ASTS) last released its 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 for the quarter, compared to analyst estimates of $3.00 million. As a group, sell-side analysts forecast that AST SpaceMobile, Inc. will post -0.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. American International Group Inc. grew its holdings in shares of AST SpaceMobile by 41.5% in the 1st quarter. American International Group Inc. now owns 56,527 shares of the company’s stock worth $164,000 after acquiring an additional 16,568 shares during the period. Virtu Financial LLC purchased a new stake in shares of AST SpaceMobile in the 4th quarter worth about $259,000. PNC Financial Services Group Inc. grew its stake in AST SpaceMobile by 319.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 163,296 shares of the company’s stock valued at $985,000 after acquiring an additional 124,322 shares during the last quarter. Capstone Investment Advisors LLC purchased a new position in AST SpaceMobile during the 1st quarter valued at about $580,000. Finally, Janus Henderson Group PLC raised its position in AST SpaceMobile by 209.9% during the first 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 during the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

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.