AST SpaceMobile (NASDAQ:ASTS) Trading Down 0.2%

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price traded down 0.2% during trading on Monday . The company traded as low as $12.16 and last traded at $12.38. 3,058,916 shares were traded during mid-day trading, a decline of 59% from the average session volume of 7,482,479 shares. The stock had previously closed at $12.40.

Analyst Upgrades and Downgrades

ASTS has been the topic of a number of recent research reports. Scotiabank increased their price objective on AST SpaceMobile from $7.40 to $12.90 and gave the stock a “sector outperform” rating in a report on Thursday, May 30th. UBS Group boosted their target price on AST SpaceMobile from $7.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd.

AST SpaceMobile Trading Down 2.1 %

The company has a current ratio of 7.51, a quick ratio of 7.51 and a debt-to-equity ratio of 0.56. The stock’s fifty day moving average price is $7.56 and its two-hundred day moving average price is $4.78. The stock has a market capitalization of $3.06 billion, a P/E ratio of -12.09 and a beta of 1.61.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. The company had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $3.00 million. Equities research analysts forecast that AST SpaceMobile, Inc. will post -0.66 EPS for the current year.

Institutional Trading of AST SpaceMobile

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ASTS. Janus Henderson Group PLC lifted its holdings in AST SpaceMobile by 209.9% in the first 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 period. Black Maple Capital Management LP bought a new position in shares of AST SpaceMobile during the first quarter valued at approximately $87,000. Masters Capital Management LLC bought a new stake in shares of AST SpaceMobile in the 1st quarter worth approximately $2,900,000. Price T Rowe Associates Inc. MD boosted its holdings in AST SpaceMobile by 71.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 55,335 shares of the company’s stock worth $161,000 after acquiring an additional 22,987 shares in the last quarter. Finally, Natixis raised its position in shares of AST SpaceMobile by 62.2% in the 1st quarter. Natixis now owns 55,863 shares of the company’s stock worth $162,000 after purchasing an additional 21,430 shares during the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Company Profile

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.