AST SpaceMobile, Inc. (NASDAQ:ASTS) Short Interest Update

AST SpaceMobile, Inc. (NASDAQ:ASTS) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 23,450,000 shares, a decline of 17.7% from the August 15th total of 28,510,000 shares. Approximately 17.4% of the company’s shares are short sold. Based on an average daily trading volume, of 15,660,000 shares, the days-to-cover ratio is presently 1.5 days.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ASTS shares. UBS Group raised their price target on AST SpaceMobile from $13.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. B. Riley raised their target price on shares of AST SpaceMobile from $26.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Scotiabank upped their price target on shares of AST SpaceMobile from $28.00 to $45.90 and gave the company a “sector outperform” rating in a report on Monday, August 26th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of AST SpaceMobile from $22.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th.

AST SpaceMobile Stock Up 0.0 %

Shares of ASTS traded up $0.01 during mid-day trading on Monday, hitting $29.84. 13,304,354 shares of the company’s stock were exchanged, compared to its average volume of 10,468,904. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.38 and a quick ratio of 6.38. AST SpaceMobile has a 52 week low of $1.97 and a 52 week high of $39.08. The company has a market cap of $7.68 billion, a PE ratio of -29.47 and a beta of 1.63. The company has a 50-day simple moving average of $22.67 and a 200 day simple moving average of $11.28.

AST SpaceMobile (NASDAQ:ASTS) last announced its earnings results on Wednesday, August 14th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.05. The business had revenue of $0.90 million for the quarter, compared to analyst estimates of $2.00 million. On average, research analysts forecast that AST SpaceMobile will post -0.88 earnings per share for the current fiscal year.

Insider Transactions at AST SpaceMobile

In other news, Director Adriana Cisneros purchased 4,934 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $26.32 per share, for a total transaction of $129,862.88. Following the transaction, the director now directly owns 774,772 shares of the company’s stock, valued at approximately $20,391,999.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 56.56% of the company’s stock.

Hedge Funds Weigh In On AST SpaceMobile

Hedge funds have recently modified their holdings of the stock. BNP Paribas bought a new stake in AST SpaceMobile during the first quarter worth about $43,000. Principal Financial Group Inc. acquired a new position in shares of AST SpaceMobile during the 1st quarter worth approximately $45,000. Victory Capital Management Inc. bought a new stake in shares of AST SpaceMobile during the 4th quarter worth approximately $65,000. Cantor Fitzgerald L. P. acquired a new stake in shares of AST SpaceMobile in the 4th quarter valued at approximately $66,000. Finally, Rathbones Group PLC bought a new position in shares of AST SpaceMobile in the fourth quarter valued at $76,000. Institutional investors own 60.95% of the company’s stock.

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.