AST SpaceMobile (NASDAQ:ASTS) Trading Up 9.2%

AST SpaceMobile, Inc. (NASDAQ:ASTS) rose 9.2% during mid-day trading on Friday . The company traded as high as $4.58 and last traded at $4.52. Approximately 2,512,760 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 5,430,718 shares. The stock had previously closed at $4.14.

Wall Street Analyst Weigh In

ASTS has been the topic of several research reports. UBS Group started coverage on shares of AST SpaceMobile in a research note on Friday, March 8th. They issued a “buy” rating and a $7.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped 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 note on Wednesday, April 3rd. Finally, Scotiabank reduced their price objective on AST SpaceMobile from $7.50 to $7.40 and set a “sector outperform” rating for the company in a research report on Tuesday, April 2nd.

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 capitalization of $1.17 billion, a price-to-earnings ratio of -4.51 and a beta of 0.93. The stock’s 50 day simple moving average is $2.66 and its 200-day simple moving average is $3.63.

AST SpaceMobile (NASDAQ:ASTS) last released its quarterly earnings data on Monday, April 1st. The company reported ($0.35) earnings per share (EPS) for the quarter. On average, analysts expect that AST SpaceMobile, Inc. will post -0.66 EPS for the current fiscal year.

Institutional Trading of AST SpaceMobile

Large investors have recently made changes to their positions in the stock. Janus Henderson Group PLC raised its stake in shares of AST SpaceMobile by 209.9% in the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock valued at $21,606,000 after acquiring an additional 5,046,667 shares in the last quarter. Vanguard Group Inc. raised its position in shares of AST SpaceMobile by 49.9% in the first quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock valued at $19,325,000 after purchasing an additional 2,217,531 shares during the period. Broad Run Investment Management LLC lifted its stake in shares of AST SpaceMobile by 74.8% in the fourth quarter. Broad Run Investment Management LLC now owns 3,962,853 shares of the company’s stock worth $23,896,000 after buying an additional 1,695,805 shares during the last quarter. Hudson Bay Capital Management LP boosted its holdings in shares of AST SpaceMobile by 31.3% during the 3rd quarter. Hudson Bay Capital Management LP now owns 1,051,615 shares of the company’s stock worth $3,996,000 after buying an additional 250,389 shares during the period. Finally, Masters Capital Management LLC bought a new stake in shares of AST SpaceMobile during the 1st quarter worth $2,900,000. Institutional investors own 60.95% of the company’s stock.

About AST SpaceMobile

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.