AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) rose 4.1% during mid-day trading on Wednesday . The company traded as high as $11.31 and last traded at $11.16. Approximately 1,583,607 shares were traded during trading, a decline of 79% from the average daily volume of 7,470,619 shares. The stock had previously closed at $10.72.
Wall Street Analysts Forecast Growth
ASTS has been the subject of a number of recent research reports. UBS Group lifted their price target on shares of AST SpaceMobile from $7.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Scotiabank lifted their price target on shares of AST SpaceMobile from $7.40 to $12.90 and gave the company a “sector outperform” rating in a research report on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd.
Get Our Latest Analysis on AST SpaceMobile
AST SpaceMobile Price Performance
AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $3.00 million. As a group, research analysts predict that AST SpaceMobile, Inc. will post -0.66 EPS for the current year.
Institutional Trading of AST SpaceMobile
Several large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC grew its position in AST SpaceMobile by 209.9% during the first quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock valued at $21,606,000 after buying an additional 5,046,667 shares during the period. Black Maple Capital Management LP bought a new stake in AST SpaceMobile during the first quarter valued at approximately $87,000. Masters Capital Management LLC bought a new stake in AST SpaceMobile during the first quarter valued at approximately $2,900,000. Price T Rowe Associates Inc. MD grew its position in AST SpaceMobile by 71.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 55,335 shares of the company’s stock valued at $161,000 after buying an additional 22,987 shares during the period. Finally, Natixis grew its position in AST SpaceMobile by 62.2% during the first quarter. Natixis now owns 55,863 shares of the company’s stock valued at $162,000 after buying an additional 21,430 shares during the period. 60.95% of the stock is currently owned by institutional investors.
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.
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