AST SpaceMobile, Inc. (NASDAQ:ASTS) Short Interest Update

AST SpaceMobile, Inc. (NASDAQ:ASTS) was the target of a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 25,390,000 shares, a decline of 13.3% from the May 31st total of 29,300,000 shares. Based on an average daily trading volume, of 9,920,000 shares, the short-interest ratio is presently 2.6 days. Currently, 21.1% of the shares of the company are sold short.

Institutional Investors Weigh In On AST SpaceMobile

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ASTS shares. Scotiabank upped their target price 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. UBS Group increased their price objective on AST SpaceMobile from $7.00 to $13.00 and gave the company a “buy” rating in a report on Monday, June 10th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd.

AST SpaceMobile Stock Performance

Shares of AST SpaceMobile stock opened at $11.61 on Monday. The firm has a fifty day moving average price of $6.25 and a 200 day moving average price of $4.48. AST SpaceMobile has a 1 year low of $1.97 and a 1 year high of $12.45. The company has a debt-to-equity ratio of 0.56, a current ratio of 7.51 and a quick ratio of 7.51.

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

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.