AST SpaceMobile (NASDAQ:ASTS) Trading 3% Higher

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price rose 3% during mid-day trading on Tuesday . The stock traded as high as $20.57 and last traded at $20.33. Approximately 2,715,359 shares were traded during mid-day trading, a decline of 66% from the average daily volume of 8,029,131 shares. The stock had previously closed at $19.73.

Wall Street Analyst Weigh In

ASTS has been the subject of several research analyst reports. UBS Group raised their price objective on AST SpaceMobile from $7.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. 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 note on Thursday, May 30th.

AST SpaceMobile Price Performance

The stock has a 50-day moving average price of $13.42 and a 200 day moving average price of $6.77. The company has a quick ratio of 7.51, a current ratio of 7.51 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $5.40 billion, a PE ratio of -20.74 and a beta of 1.61.

AST SpaceMobile (NASDAQ:ASTS) last posted 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 firm had revenue of $0.50 million for the quarter, compared to analyst estimates of $3.00 million. Equities analysts forecast that AST SpaceMobile, Inc. will post -0.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Janus Henderson Group PLC raised 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 buying an additional 5,046,667 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of AST SpaceMobile by 49.9% in the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock worth $19,325,000 after purchasing an additional 2,217,531 shares in the last quarter. Broad Run Investment Management LLC grew its stake in shares of AST SpaceMobile by 74.8% in the fourth quarter. Broad Run Investment Management LLC now owns 3,962,853 shares of the company’s stock worth $23,896,000 after purchasing an additional 1,695,805 shares in the last quarter. Masters Capital Management LLC bought a new position in AST SpaceMobile during the first quarter valued at about $2,900,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in AST SpaceMobile in the 2nd quarter worth about $9,270,000. 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.