Short Interest in AST SpaceMobile, Inc. (NASDAQ:ASTS) Decreases By 13.3%

AST SpaceMobile, Inc. (NASDAQ:ASTS) was the target of a significant decrease in short interest during the month of June. As of June 15th, there was short interest totalling 25,390,000 shares, a decrease of 13.3% from the May 31st total of 29,300,000 shares. Based on an average daily volume of 9,920,000 shares, the days-to-cover ratio is currently 2.6 days. Approximately 21.1% of the company’s stock are short sold.

AST SpaceMobile Price Performance

AST SpaceMobile stock traded up $0.16 during midday trading on Friday, reaching $11.61. 14,037,550 shares of the company’s stock were exchanged, compared to its average volume of 10,239,594. The company has a current ratio of 7.51, a quick ratio of 7.51 and a debt-to-equity ratio of 0.56. AST SpaceMobile has a 52 week low of $1.97 and a 52 week high of $12.45. The stock’s 50-day simple moving average is $6.25 and its 200 day simple moving average is $4.49.

AST SpaceMobile (NASDAQ:ASTS) last announced its earnings results on Wednesday, May 15th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.02. The company had revenue of $0.50 million for the quarter, compared to the consensus estimate of $3.00 million. On average, sell-side analysts forecast that AST SpaceMobile will post -0.66 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on ASTS shares. Deutsche Bank Aktiengesellschaft cut 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 report on Wednesday, April 3rd. UBS Group increased their price target on AST SpaceMobile from $7.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, Scotiabank boosted 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.

Institutional Trading of AST SpaceMobile

Several hedge funds have recently added to or reduced their stakes in the company. BNP Paribas bought a new position in AST SpaceMobile during the 1st quarter worth $43,000. Principal Financial Group Inc. acquired a new stake in AST SpaceMobile in the 1st quarter worth about $45,000. Summit Trail Advisors LLC bought a new stake in AST SpaceMobile in the 1st quarter valued at about $47,000. Victory Capital Management Inc. acquired a new position in shares of AST SpaceMobile during the 4th quarter worth approximately $65,000. Finally, Cantor Fitzgerald L. P. bought a new position in shares of AST SpaceMobile during the fourth quarter worth approximately $66,000. 60.95% of the stock is owned by institutional investors and hedge funds.

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.