AST SpaceMobile (NASDAQ:ASTS) Trading Up 6.9%

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s share price traded up 6.9% during mid-day trading on Monday . The company traded as high as $28.25 and last traded at $27.90. 4,955,430 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 10,170,065 shares. The stock had previously closed at $26.11.

Analyst Ratings Changes

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

AST SpaceMobile Trading Up 2.2 %

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’s fifty day moving average price is $21.07 and its 200 day moving average price is $10.43. The stock has a market cap of $7.19 billion, a P/E ratio of -28.47 and a beta of 1.63.

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

Institutional Trading of AST SpaceMobile

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Janus Henderson Group PLC boosted its holdings in AST SpaceMobile by 209.9% in the first quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock worth $21,606,000 after purchasing an additional 5,046,667 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of AST SpaceMobile by 49.9% during the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock worth $19,325,000 after acquiring an additional 2,217,531 shares during the last quarter. Broad Run Investment Management LLC grew its position in shares of AST SpaceMobile by 74.8% during the 4th quarter. Broad Run Investment Management LLC now owns 3,962,853 shares of the company’s stock valued at $23,896,000 after acquiring an additional 1,695,805 shares during the period. Masters Capital Management LLC purchased a new stake in shares of AST SpaceMobile in the 1st quarter worth $2,900,000. Finally, Oppenheimer & Co. Inc. bought a new position in AST SpaceMobile in the 2nd quarter worth $9,270,000. 60.95% of the stock is currently owned by institutional investors.

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.