Short Interest in AST SpaceMobile, Inc. (NASDAQ:ASTS) Grows By 5.4%

AST SpaceMobile, Inc. (NASDAQ:ASTSGet Rating) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 12,990,000 shares, an increase of 5.4% from the October 15th total of 12,320,000 shares. Currently, 36.1% of the company’s shares are short sold. Based on an average daily trading volume, of 1,710,000 shares, the short-interest ratio is currently 7.6 days.

Analysts Set New Price Targets

A number of analysts have weighed in on ASTS shares. TheStreet cut AST SpaceMobile from a “c-” rating to a “d” rating in a research note on Monday, October 3rd. B. Riley assumed coverage on AST SpaceMobile in a report on Friday, October 28th. They set a “buy” rating and a $15.00 price target on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on AST SpaceMobile from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, August 17th. Finally, Barclays lowered their price target on AST SpaceMobile from $29.00 to $15.00 and set an “overweight” rating on the stock in a report on Wednesday, October 19th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ASTS. Royal Bank of Canada boosted its stake in AST SpaceMobile by 357.3% in the 3rd quarter. Royal Bank of Canada now owns 3,576 shares of the company’s stock worth $26,000 after purchasing an additional 2,794 shares during the period. UBS Group AG grew its position in AST SpaceMobile by 45.3% in the 1st quarter. UBS Group AG now owns 4,222 shares of the company’s stock worth $42,000 after purchasing an additional 1,316 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of AST SpaceMobile during the 2nd quarter valued at about $65,000. Wolverine Asset Management LLC acquired a new stake in shares of AST SpaceMobile during the 3rd quarter valued at about $76,000. Finally, Summit Trail Advisors LLC bought a new position in AST SpaceMobile during the 2nd quarter valued at about $76,000. 6.68% of the stock is currently owned by institutional investors.

AST SpaceMobile Trading Up 0.9 %

Shares of ASTS opened at $6.76 on Friday. The company has a market capitalization of $1.24 billion, a PE ratio of -13.25 and a beta of 0.76. The company has a debt-to-equity ratio of 0.02, a quick ratio of 10.35 and a current ratio of 10.64. The stock has a fifty day moving average of $7.53 and a two-hundred day moving average of $7.93. AST SpaceMobile has a fifty-two week low of $4.84 and a fifty-two week high of $14.27.

AST SpaceMobile (NASDAQ:ASTSGet Rating) last issued its earnings results on Monday, August 15th. The company reported ($0.06) earnings per share (EPS) for the quarter. The company had revenue of $7.26 million during the quarter. AST SpaceMobile had a negative net margin of 132.30% and a negative return on equity of 8.32%. As a group, analysts forecast that AST SpaceMobile will post -0.48 EPS for the current year.

About AST SpaceMobile

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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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