AST SpaceMobile (NASDAQ:ASTS) Shares Gap Up to $10.08

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares gapped up before the market opened on Monday . The stock had previously closed at $10.08, but opened at $10.49. AST SpaceMobile shares last traded at $10.52, with a volume of 1,157,785 shares trading hands.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. UBS Group boosted their price objective on AST SpaceMobile from $7.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Scotiabank upped their price target on AST SpaceMobile from $7.40 to $12.90 and gave the company a “sector outperform” rating in a research report on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on 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 Stock Performance

The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of -10.67 and a beta of 1.57. 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 50 day moving average price of $5.35 and a two-hundred day moving average price of $4.27.

AST SpaceMobile (NASDAQ:ASTS) last announced its earnings results 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 business had revenue of $0.50 million during the quarter, compared to analyst estimates of $3.00 million. On average, analysts predict that AST SpaceMobile, Inc. will post -0.66 EPS for the current fiscal year.

Hedge Funds Weigh In On AST SpaceMobile

Several hedge funds have recently added to or reduced their stakes in ASTS. Dark Forest Capital Management LP boosted its holdings in AST SpaceMobile by 110.5% during the third quarter. Dark Forest Capital Management LP now owns 240,245 shares of the company’s stock worth $913,000 after buying an additional 126,102 shares during the last quarter. Marathon Trading Investment Management LLC bought a new position in AST SpaceMobile during the third quarter worth about $114,000. Hudson Bay Capital Management LP boosted its holdings in AST SpaceMobile by 31.3% during the third quarter. Hudson Bay Capital Management LP now owns 1,051,615 shares of the company’s stock worth $3,996,000 after buying an additional 250,389 shares during the last quarter. Salvus Wealth Management LLC boosted its holdings in AST SpaceMobile by 351.1% during the fourth quarter. Salvus Wealth Management LLC now owns 113,182 shares of the company’s stock worth $682,000 after buying an additional 88,092 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in AST SpaceMobile during the fourth quarter worth about $115,000. Institutional investors own 60.95% of the company’s stock.

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.