AST SpaceMobile (NASDAQ:ASTS) Trading Down 0.9%

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price traded down 0.9% during mid-day trading on Tuesday . The company traded as low as $10.51 and last traded at $10.74. 1,668,000 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 7,475,551 shares. The stock had previously closed at $10.84.

Analyst Ratings Changes

ASTS has been the topic of a number of research reports. UBS Group increased their price objective 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 cut their price objective on AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Finally, 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 note on Thursday, May 30th.

AST SpaceMobile Price Performance

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 firm’s 50 day moving average is $6.78 and its two-hundred day moving average is $4.60.

AST SpaceMobile (NASDAQ:ASTS) last issued 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 firm had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $3.00 million. On average, analysts expect that AST SpaceMobile, Inc. will post -0.66 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ASTS. Janus Henderson Group PLC increased its stake in AST SpaceMobile by 209.9% in the first quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock valued at $21,606,000 after purchasing an additional 5,046,667 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of AST SpaceMobile by 49.9% in the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock worth $19,325,000 after acquiring an additional 2,217,531 shares during the last quarter. Broad Run Investment Management LLC increased its position in AST SpaceMobile by 74.8% during the fourth quarter. Broad Run Investment Management LLC now owns 3,962,853 shares of the company’s stock worth $23,896,000 after purchasing an additional 1,695,805 shares during the last quarter. Masters Capital Management LLC acquired a new position in shares of AST SpaceMobile in the 1st quarter valued at $2,900,000. Finally, Hudson Bay Capital Management LP boosted its holdings in AST SpaceMobile by 31.3% in the third quarter. Hudson Bay Capital Management LP now owns 1,051,615 shares of the company’s stock valued at $3,996,000 after acquiring an additional 250,389 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors and hedge funds.

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.