AST SpaceMobile (NASDAQ:ASTS) Shares Up 3.3%

AST SpaceMobile, Inc. (NASDAQ:ASTSGet Free Report) shot up 3.3% on Thursday . The stock traded as high as $10.34 and last traded at $10.08. 3,812,268 shares changed hands during trading, a decline of 47% from the average session volume of 7,143,729 shares. The stock had previously closed at $9.76.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ASTS. Deutsche Bank Aktiengesellschaft cut 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. Scotiabank lifted their price objective on AST SpaceMobile from $7.40 to $12.90 and gave the stock a “sector outperform” rating in a research note on Thursday, May 30th. Finally, UBS Group lifted their price objective on AST SpaceMobile from $7.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday.

Check Out Our Latest Stock Report on ASTS

AST SpaceMobile Stock Up 3.2 %

The company has a debt-to-equity ratio of 0.56, a current ratio of 7.51 and a quick ratio of 7.51. The business has a 50 day moving average price of $3.99 and a 200 day moving average price of $3.95. The firm has a market capitalization of $2.59 billion, a P/E ratio of -10.17 and a beta of 1.57.

AST SpaceMobile (NASDAQ:ASTSGet Free Report) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.02. The firm had revenue of $0.50 million for the quarter, compared to the consensus estimate of $3.00 million. On average, analysts predict that AST SpaceMobile, Inc. will post -0.66 earnings per share for the current year.

Hedge Funds Weigh In On AST SpaceMobile

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas acquired a new stake in AST SpaceMobile during the first quarter valued at approximately $43,000. Principal Financial Group Inc. acquired a new stake in AST SpaceMobile during the first quarter valued at approximately $45,000. Summit Trail Advisors LLC acquired a new stake in AST SpaceMobile during the first quarter valued at approximately $47,000. Victory Capital Management Inc. acquired a new stake in AST SpaceMobile during the fourth quarter valued at approximately $65,000. Finally, Cantor Fitzgerald L. P. acquired a new stake in AST SpaceMobile during the fourth quarter valued at approximately $66,000. 60.95% of the stock is currently owned by institutional investors.

About AST SpaceMobile

(Get Free Report)

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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