AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) shares were down 1.4% during trading on Friday . The company traded as low as $28.75 and last traded at $30.93. Approximately 32,291,668 shares changed hands during trading, an increase of 273% from the average daily volume of 8,657,818 shares. The stock had previously closed at $31.36.
Wall Street Analysts Forecast Growth
ASTS has been the topic of a number of recent research reports. Scotiabank lifted their target price on AST SpaceMobile from $21.10 to $28.00 and gave the stock a “sector outperform” rating in a research report on Friday. UBS Group lifted their price objective on AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday. Finally, B. Riley upped their target price on AST SpaceMobile from $15.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday.
Read Our Latest Report on AST SpaceMobile
AST SpaceMobile Stock Performance
AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last released its quarterly earnings data on Wednesday, May 15th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The company had revenue of $0.50 million for the quarter, compared to analyst estimates of $3.00 million. As a group, equities analysts predict that AST SpaceMobile, Inc. will post -0.65 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of ASTS. BNP Paribas acquired a new stake in shares of AST SpaceMobile in the 1st quarter valued at $43,000. Principal Financial Group Inc. acquired a new stake in shares of AST SpaceMobile during the 1st quarter worth about $45,000. Summit Trail Advisors LLC bought a new position in AST SpaceMobile during the 1st quarter valued at about $47,000. Victory Capital Management Inc. acquired a new position in AST SpaceMobile in the fourth quarter valued at about $65,000. Finally, Cantor Fitzgerald L. P. acquired a new position in AST SpaceMobile in the fourth quarter valued at about $66,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.
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.
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