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

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

AST SpaceMobile Price Performance

Shares of AST SpaceMobile stock traded up $0.01 during midday trading on Monday, reaching $29.84. The company had a trading volume of 13,304,354 shares, compared to its average volume of 10,468,904. The company has a current ratio of 6.38, a quick ratio of 6.38 and a debt-to-equity ratio of 0.83. The stock has a fifty day simple moving average of $22.67 and a 200 day simple moving average of $11.28. AST SpaceMobile has a 1-year low of $1.97 and a 1-year high of $39.08. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of -29.47 and a beta of 1.63.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings data on Wednesday, August 14th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. The firm had revenue of $0.90 million during the quarter, compared to the consensus estimate of $2.00 million. As a group, equities research analysts forecast that AST SpaceMobile will post -0.88 earnings per share for the current year.

Insider Activity

In related news, Director Adriana Cisneros purchased 4,934 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $26.32 per share, with a total value of $129,862.88. Following the purchase, the director now directly owns 774,772 shares in the company, valued at $20,391,999.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 56.56% of the company’s stock.

Institutional Trading of AST SpaceMobile

A number of hedge funds and other institutional 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 1st quarter valued at about $43,000. Principal Financial Group Inc. bought a new position in AST SpaceMobile in the first quarter valued at approximately $45,000. Victory Capital Management Inc. acquired a new stake in AST SpaceMobile during the 4th quarter worth $65,000. Cantor Fitzgerald L. P. bought a new stake in shares of AST SpaceMobile during the 4th quarter valued at $66,000. Finally, Rathbones Group PLC bought a new stake in shares of AST SpaceMobile during the 4th quarter valued at $76,000. 60.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.