AST SpaceMobile (NASDAQ:ASTS) Shares Up 6.1%

AST SpaceMobile, Inc. (NASDAQ:ASTSGet Free Report) shares were up 6.1% during trading on Thursday . The stock traded as high as $11.54 and last traded at $11.37. Approximately 4,315,048 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 9,967,160 shares. The stock had previously closed at $10.72.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ASTS. UBS Group boosted their target price on shares of AST SpaceMobile from $7.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Deutsche Bank Aktiengesellschaft cut their price target on AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Finally, Scotiabank boosted their target price on shares of AST SpaceMobile from $7.40 to $12.90 and gave the stock a “sector outperform” rating in a research report on Thursday, May 30th.

Check Out Our Latest Report on AST SpaceMobile

AST SpaceMobile Stock Up 9.1 %

The firm has a 50 day moving average of $7.17 and a 200-day moving average of $4.70. The company has a debt-to-equity ratio of 0.56, a current ratio of 7.51 and a quick ratio of 7.51. The stock has a market capitalization of $3.19 billion, a P/E ratio of -12.65 and a beta of 1.61.

AST SpaceMobile (NASDAQ:ASTSGet Free Report) last released its quarterly earnings data on Wednesday, May 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The firm had revenue of $0.50 million for the quarter, compared to the consensus estimate of $3.00 million. On average, equities research analysts expect that AST SpaceMobile, Inc. will post -0.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AST SpaceMobile

Several institutional investors and hedge funds have recently bought and sold shares of ASTS. Victory Capital Management Inc. acquired a new stake in shares of AST SpaceMobile during the 4th quarter valued at about $65,000. Cantor Fitzgerald L. P. bought a new stake in shares of AST SpaceMobile in the 4th quarter valued at approximately $66,000. Rathbones Group PLC acquired a new position in shares of AST SpaceMobile in the 4th quarter worth approximately $76,000. BNP Paribas bought a new position in shares of AST SpaceMobile during the 1st quarter worth approximately $43,000. Finally, Principal Financial Group Inc. acquired a new stake in AST SpaceMobile in the 1st quarter valued at $45,000. Institutional investors own 60.95% of the company’s stock.

About AST SpaceMobile

(Get Free Report)

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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