AST SpaceMobile (NASDAQ:ASTS) Shares Up 0.4%

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) shares shot up 0.4% during mid-day trading on Tuesday . The company traded as high as $10.55 and last traded at $10.37. 3,293,117 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 7,407,144 shares. The stock had previously closed at $10.33.

Analyst Ratings Changes

A number of brokerages recently issued reports on ASTS. Deutsche Bank Aktiengesellschaft lowered their price target 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. UBS Group raised their price target on AST SpaceMobile from $7.00 to $13.00 and gave the stock a "buy" rating in a research report on Monday, June 10th. Finally, Scotiabank raised their price target 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.

AST SpaceMobile Stock Performance

The stock has a market cap of $2.83 billion, a PE ratio of -11.20 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. The firm has a 50 day moving average price of $5.69 and a 200 day moving average price of $4.35.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.16) 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 analysts' expectations of $3.00 million. As a group, research analysts forecast that AST SpaceMobile, Inc. will post -0.66 earnings per share for the current year.

Hedge Funds Weigh In On AST SpaceMobile

Several institutional investors have recently made changes to their positions in ASTS. Marathon Trading Investment Management LLC purchased a new position in shares of AST SpaceMobile during the third quarter valued at $114,000. Hudson Bay Capital Management LP grew its stake in AST SpaceMobile by 31.3% in the third quarter. Hudson Bay Capital Management LP now owns 1,051,615 shares of the company's stock valued at $3,996,000 after purchasing an additional 250,389 shares during the last quarter. Salvus Wealth Management LLC grew its stake in AST SpaceMobile by 351.1% in the fourth quarter. Salvus Wealth Management LLC now owns 113,182 shares of the company's stock valued at $682,000 after purchasing an additional 88,092 shares during the last quarter. SG Americas Securities LLC purchased a new position in AST SpaceMobile in the fourth quarter valued at about $115,000. Finally, Van ECK Associates Corp purchased a new position in AST SpaceMobile in the fourth quarter valued at about $246,000. Hedge funds and other institutional investors own 60.95% of the company's stock.

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.