AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 9.1%

AST SpaceMobile, Inc. (NASDAQ:ASTS) shares rose 9.1% on Tuesday . The stock traded as high as $14.13 and last traded at $13.97. Approximately 3,030,144 shares changed hands during trading, a decline of 59% from the average daily volume of 7,398,507 shares. The stock had previously closed at $12.80.

Analyst Upgrades and Downgrades

ASTS has been the subject of several research reports. Scotiabank raised their price target on shares of AST SpaceMobile from $7.40 to $12.90 and gave the stock a “sector outperform” rating in a research note on Thursday, May 30th. UBS Group raised their price target on shares of AST SpaceMobile from $7.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd.

AST SpaceMobile Stock Up 24.6 %

The firm has a fifty day simple moving average of $10.15 and a 200-day simple moving average of $5.43. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of -16.98 and a beta of 1.61. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.51 and a current ratio of 7.51.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings results on Wednesday, May 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.02. The business had revenue of $0.50 million for the quarter, compared to analyst estimates of $3.00 million. As a group, sell-side analysts expect that AST SpaceMobile, Inc. will post -0.65 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. BNP Paribas bought a new position in shares of AST SpaceMobile in the first quarter worth $43,000. Principal Financial Group Inc. bought a new position in shares of AST SpaceMobile in the first quarter worth $45,000. Summit Trail Advisors LLC bought a new position in shares of AST SpaceMobile in the first quarter worth $47,000. Victory Capital Management Inc. bought a new position in shares of AST SpaceMobile in the fourth quarter worth $65,000. Finally, Cantor Fitzgerald L. P. bought a new position in shares of AST SpaceMobile in the fourth quarter worth $66,000. 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.