AST SpaceMobile (NASDAQ:ASTS) Hits New 52-Week High at $14.32

AST SpaceMobile, Inc. (NASDAQ:ASTS) reached a new 52-week high during trading on Thursday . The company traded as high as $14.32 and last traded at $14.07, with a volume of 1354375 shares trading hands. The stock had previously closed at $13.36.

Analyst Upgrades and Downgrades

A number of research firms have commented on ASTS. UBS Group upped 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. Scotiabank upped their price target on AST SpaceMobile from $7.40 to $12.90 and gave the company a “sector outperform” rating in a research report on Thursday, May 30th. 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 report on Wednesday, April 3rd.

AST SpaceMobile Price Performance

The stock has a market cap of $3.76 billion, a P/E ratio of -14.91 and a beta of 1.61. The company has a current ratio of 7.51, a quick ratio of 7.51 and a debt-to-equity ratio of 0.56. The business has a 50-day simple moving average of $9.90 and a 200 day simple moving average of $5.35.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings results on Wednesday, May 15th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.02. The firm had revenue of $0.50 million for the quarter, compared to analyst estimates of $3.00 million. On average, analysts forecast that AST SpaceMobile, Inc. will post -0.65 earnings per share for the current year.

Institutional Trading of AST SpaceMobile

Several institutional investors and hedge funds have recently modified their holdings of ASTS. BNP Paribas purchased a new stake in shares of AST SpaceMobile in the first quarter worth approximately $43,000. Principal Financial Group Inc. bought a new position in shares of AST SpaceMobile in the first quarter valued at approximately $45,000. Summit Trail Advisors LLC bought a new position in shares of AST SpaceMobile in the first quarter valued at approximately $47,000. Victory Capital Management Inc. bought a new position in shares of AST SpaceMobile in the fourth quarter valued at approximately $65,000. Finally, Cantor Fitzgerald L. P. bought a new position in shares of AST SpaceMobile in the fourth quarter valued at approximately $66,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

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.