AST SpaceMobile (NASDAQ:ASTS) Stock Price Down 8.6%

AST SpaceMobile, Inc. (NASDAQ:ASTSGet Free Report) fell 8.6% during mid-day trading on Friday . The stock traded as low as $10.08 and last traded at $10.25. 4,604,156 shares changed hands during trading, a decline of 38% from the average session volume of 7,400,298 shares. The stock had previously closed at $11.22.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ASTS. Scotiabank increased their price target 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. UBS Group increased their price target on shares of AST SpaceMobile from $7.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, April 3rd.

Read Our Latest Stock Analysis on AST SpaceMobile

AST SpaceMobile Price Performance

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 stock has a market cap of $2.67 billion, a price-to-earnings ratio of -10.46 and a beta of 1.57. The business’s 50-day simple moving average is $5.19 and its two-hundred day simple moving average is $4.25.

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

Hedge Funds Weigh In On AST SpaceMobile

Hedge funds have recently modified their holdings of the business. Hudson Bay Capital Management LP lifted its holdings in shares of AST SpaceMobile by 31.3% during the third quarter. Hudson Bay Capital Management LP now owns 1,051,615 shares of the company’s stock worth $3,996,000 after purchasing an additional 250,389 shares during the period. Broad Run Investment Management LLC lifted its holdings in shares of 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 period. Cantor Fitzgerald L. P. acquired a new position in shares of AST SpaceMobile during the fourth quarter worth $66,000. PNC Financial Services Group Inc. lifted its holdings in shares of AST SpaceMobile by 319.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 163,296 shares of the company’s stock worth $985,000 after purchasing an additional 124,322 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in shares of AST SpaceMobile during the fourth quarter worth $65,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

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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