Traders Purchase High Volume of Call Options on AST SpaceMobile (NASDAQ:ASTS)

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) saw unusually large options trading on Friday. Stock investors acquired 35,598 call options on the company. This is an increase of approximately 67% compared to the typical daily volume of 21,336 call options.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ASTS. Virtu Financial LLC acquired a new position in shares of AST SpaceMobile during the fourth quarter worth about $259,000. PNC Financial Services Group Inc. lifted its stake 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 in the last quarter. Capstone Investment Advisors LLC acquired a new position in shares of AST SpaceMobile during the first quarter worth about $580,000. Broad Run Investment Management LLC lifted its stake 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 in the last quarter. Finally, Cantor Fitzgerald L. P. acquired a new position in shares of AST SpaceMobile during the fourth quarter worth about $66,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on ASTS. Scotiabank increased their price target 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. UBS Group increased their price target on AST SpaceMobile from $7.00 to $13.00 and gave the stock a "buy" rating in a research note on Monday, June 10th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on AST SpaceMobile from $23.00 to $19.00 and set a "buy" rating on the stock in a research note on Wednesday, April 3rd.

AST SpaceMobile Trading Up 3.7 %

Shares of ASTS traded up $0.46 during trading hours on Friday, hitting $12.84. The stock had a trading volume of 5,356,041 shares, compared to its average volume of 7,453,035. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.51 and a current ratio of 7.51. The firm has a market cap of $3.31 billion, a P/E ratio of -13.49 and a beta of 1.61. The company's fifty day simple moving average is $9.03 and its 200 day simple moving average is $5.12. AST SpaceMobile has a 12-month low of $1.97 and a 12-month high of $14.03.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its earnings results on Wednesday, May 15th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.02. The firm had revenue of $0.50 million during the quarter, compared to analysts' expectations of $3.00 million. Equities research analysts forecast that AST SpaceMobile will post -0.66 EPS for the current fiscal year.

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.