AST SpaceMobile (NASDAQ:ASTS) Reaches New 52-Week High at $12.56

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $12.56 and last traded at $12.27, with a volume of 2141558 shares changing hands. The stock had previously closed at $11.61.

Analyst Ratings Changes

ASTS has been the subject of several recent analyst reports. UBS Group raised their target price on shares of AST SpaceMobile from $7.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Deutsche Bank Aktiengesellschaft decreased their target price on AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd. Finally, Scotiabank lifted their price objective 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.

AST SpaceMobile Stock Up 2.0 %

The company has a quick ratio of 7.51, a current ratio of 7.51 and a debt-to-equity ratio of 0.56. The company has a 50 day moving average of $6.25 and a 200-day moving average of $4.48.

AST SpaceMobile (NASDAQ:ASTS) last released 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 business had revenue of $0.50 million for the quarter, compared to the consensus estimate of $3.00 million. On average, research analysts expect that AST SpaceMobile, Inc. will post -0.66 EPS for the current fiscal year.

Institutional Investors Weigh In On AST SpaceMobile

Several institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. bought a new position in AST SpaceMobile during the 4th quarter worth $65,000. Cantor Fitzgerald L. P. acquired a new position in AST SpaceMobile in the fourth quarter valued at about $66,000. Rathbones Group PLC acquired a new stake in AST SpaceMobile during the fourth quarter worth about $76,000. BNP Paribas acquired a new position in shares of AST SpaceMobile in the 1st quarter valued at approximately $43,000. Finally, Principal Financial Group Inc. bought a new stake in shares of AST SpaceMobile during the 1st quarter worth approximately $45,000. 60.95% of the stock is currently owned by 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.