According to Zacks, “AST SpaceMobile is building space-based cellular broadband network to operate directly with standard, unmodified mobile devices based on its extensive IP and patent portfolio. AST SpaceMobile, formerly known as New Providence Acquisition Corp., is based in Texas, United States. “
Separately, Deutsche Bank Aktiengesellschaft cut their price target on shares of AST SpaceMobile from $32.00 to $31.00 in a research report on Tuesday.
AST SpaceMobile (NASDAQ:ASTS – Get Rating) last announced its quarterly earnings results on Thursday, March 31st. The company reported ($0.06) earnings per share for the quarter. The firm had revenue of $6.22 million during the quarter. AST SpaceMobile had a negative net margin of 214.60% and a negative return on equity of 20.08%. On average, equities analysts anticipate that AST SpaceMobile will post -0.5 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in ASTS. Royal Bank of Canada acquired a new stake in AST SpaceMobile during the 2nd quarter worth approximately $27,000. Bank of America Corp DE bought a new position in shares of AST SpaceMobile during the 2nd quarter worth approximately $91,000. Millennium Management LLC bought a new position in shares of AST SpaceMobile during the 2nd quarter worth approximately $365,000. Morgan Stanley bought a new position in shares of AST SpaceMobile during the 2nd quarter worth approximately $5,151,000. Finally, Advisor Group Holdings Inc. grew its stake in shares of AST SpaceMobile by 73.6% during the 3rd quarter. Advisor Group Holdings Inc. now owns 19,719 shares of the company’s stock worth $213,000 after acquiring an additional 8,361 shares in the last quarter. Hedge funds and other institutional investors own 24.84% of the company’s stock.
AST SpaceMobile Company Profile (Get Rating)
AST SpaceMobile, Inc operates space-based cellular broadband network for mobile phones. Its SpaceMobile service provides mobile broadband services for users traveling in and out of areas without terrestrial mobile services on land, at sea, or in flight. The company is headquartered in Midland, Texas.
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