AST SpaceMobile (NASDAQ:ASTS) Sees Large Volume Increase

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTSGet Free Report) saw an uptick in trading volume on Tuesday . 2,179,515 shares were traded during mid-day trading, a decline of 71% from the previous session’s volume of 7,390,231 shares.The stock last traded at $9.93 and had previously closed at $10.33.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ASTS. UBS Group lifted their target price on AST SpaceMobile from $7.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Scotiabank lifted their target price on AST SpaceMobile from $7.40 to $12.90 and gave the stock a “sector outperform” rating in a research report on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price 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.

Read Our Latest Stock Analysis on AST SpaceMobile

AST SpaceMobile Trading Up 2.0 %

The stock’s 50 day moving average is $5.51 and its two-hundred day moving average is $4.31. The company has a market capitalization of $2.71 billion, a PE ratio of -10.58 and a beta of 1.54. The company has a quick ratio of 7.51, a current ratio of 7.51 and a debt-to-equity ratio of 0.56.

AST SpaceMobile (NASDAQ:ASTSGet Free Report) last released its quarterly earnings data on Wednesday, May 15th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. The business had revenue of $0.50 million during the quarter, compared to analysts’ expectations of $3.00 million. As a group, sell-side analysts predict that AST SpaceMobile, Inc. will post -0.66 EPS for the current fiscal year.

Hedge Funds Weigh In On AST SpaceMobile

Several hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. acquired a new position in shares of AST SpaceMobile during the fourth quarter valued at about $65,000. Cantor Fitzgerald L. P. acquired a new position in shares of AST SpaceMobile during the fourth quarter valued at about $66,000. Rathbones Group PLC acquired a new position in shares of AST SpaceMobile during the fourth quarter valued at about $76,000. BNP Paribas acquired a new position in shares of AST SpaceMobile during the first quarter valued at about $43,000. Finally, Principal Financial Group Inc. purchased a new stake in AST SpaceMobile in the first quarter valued at approximately $45,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

AST SpaceMobile Company Profile

(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.

Further Reading

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