AST SpaceMobile, Inc. (NASDAQ:ASTS) Sees Large Growth in Short Interest

AST SpaceMobile, Inc. (NASDAQ:ASTS) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 18,500,000 shares, an increase of 11.6% from the August 15th total of 16,580,000 shares. Currently, 24.3% of the shares of the stock are sold short. Based on an average daily volume of 2,300,000 shares, the days-to-cover ratio is currently 8.0 days.

AST SpaceMobile Price Performance

Shares of AST SpaceMobile stock traded up $0.24 during trading hours on Tuesday, reaching $4.05. 2,188,848 shares of the company’s stock were exchanged, compared to its average volume of 1,980,932. The business has a fifty day moving average of $4.04 and a two-hundred day moving average of $4.89. The company has a market capitalization of $881.60 million, a P/E ratio of -5.11 and a beta of 0.59. The company has a quick ratio of 7.22, a current ratio of 7.22 and a debt-to-equity ratio of 0.01. AST SpaceMobile has a 1 year low of $3.55 and a 1 year high of $10.21.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings data on Tuesday, August 15th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.05). As a group, research analysts predict that AST SpaceMobile will post -0.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AST SpaceMobile

A number of large investors have recently made changes to their positions in ASTS. Royal Bank of Canada lifted its position in AST SpaceMobile by 357.3% during the third quarter. Royal Bank of Canada now owns 3,576 shares of the company’s stock worth $26,000 after buying an additional 2,794 shares in the last quarter. Bartlett & Co. LLC purchased a new position in shares of AST SpaceMobile during the 2nd quarter worth $27,000. Tower Research Capital LLC TRC boosted its position in shares of AST SpaceMobile by 1,831.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 5,890 shares of the company’s stock valued at $30,000 after acquiring an additional 5,585 shares during the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of AST SpaceMobile in the second quarter valued at about $34,000. Finally, UBS Group AG increased its position in AST SpaceMobile by 45.3% during the first quarter. UBS Group AG now owns 4,222 shares of the company’s stock worth $42,000 after purchasing an additional 1,316 shares during the last quarter. 54.53% of the stock is currently owned by hedge funds and other institutional investors.

About AST SpaceMobile

AST SpaceMobile, Inc, together with its subsidiaries, operates space-based cellular broadband network for mobile phones in the United States. Its SpaceMobile service provides mobile broadband services to end-users who are out of terrestrial cellular coverage. AST SpaceMobile, Inc was founded in 2017 and is based in Midland, Texas.