AST SpaceMobile (NASDAQ:ASTS) Shares Gap Down to $11.23

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $11.23, but opened at $10.92. AST SpaceMobile shares last traded at $11.58, with a volume of 991,663 shares traded.

Wall Street Analyst Weigh In

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

AST SpaceMobile Price Performance

The company’s 50-day moving average price is $6.25 and its 200-day moving average price is $4.49. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.51 and a current ratio of 7.51.

AST SpaceMobile (NASDAQ:ASTS) last released its quarterly earnings data on Wednesday, May 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.02. The firm had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $3.00 million. As a group, sell-side analysts forecast that AST SpaceMobile, Inc. will post -0.66 earnings per share for the current year.

Institutional Investors Weigh In On AST SpaceMobile

A number of institutional investors and hedge funds have recently bought and sold shares of ASTS. BNP Paribas purchased a new stake in AST SpaceMobile in the first quarter valued at $43,000. Principal Financial Group Inc. purchased a new stake in AST SpaceMobile in the first quarter valued at $45,000. Summit Trail Advisors LLC purchased a new stake in AST SpaceMobile in the first quarter valued at $47,000. Victory Capital Management Inc. purchased a new stake in AST SpaceMobile in the fourth quarter valued at $65,000. Finally, Cantor Fitzgerald L. P. purchased a new stake in AST SpaceMobile in the fourth quarter valued at $66,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

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.