AST SpaceMobile Target of Unusually High Options Trading (NASDAQ:ASTS)

AST SpaceMobile, Inc. (NASDAQ:ASTS) was the target of unusually large options trading activity on Tuesday. Stock investors purchased 34,335 call options on the stock. This is an increase of 100% compared to the typical daily volume of 17,134 call options.

Analyst Upgrades and Downgrades

ASTS has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reduced 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 report on Wednesday, April 3rd. 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 report on Monday, June 10th. Finally, Scotiabank lifted their target price 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.

Hedge Funds Weigh In On AST SpaceMobile

Several institutional investors have recently modified their holdings of ASTS. Victory Capital Management Inc. bought a new position in AST SpaceMobile during the 4th quarter valued at approximately $65,000. Cantor Fitzgerald L. P. purchased a new position in shares of AST SpaceMobile during the fourth quarter valued at about $66,000. Rathbones Group PLC bought a new position in AST SpaceMobile in the fourth quarter worth about $76,000. BNP Paribas purchased a new stake in AST SpaceMobile in the first quarter worth about $43,000. Finally, Principal Financial Group Inc. purchased a new position 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 Stock Down 6.6 %

Shares of ASTS stock opened at $10.84 on Tuesday. The firm’s 50 day moving average is $6.43 and its 200 day moving average is $4.52. 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 has a 12 month low of $1.97 and a 12 month high of $12.60.

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, beating the consensus estimate 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. As a group, research analysts expect that AST SpaceMobile will post -0.66 earnings per share for the current fiscal year.

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.