AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report)’s stock price was up 0.5% during mid-day trading on Monday . The company traded as high as $10.77 and last traded at $10.13. Approximately 2,853,573 shares changed hands during trading, a decline of 61% from the average daily volume of 7,405,930 shares. The stock had previously closed at $10.08.
Analysts Set New Price Targets
A number of research analysts recently issued reports on ASTS shares. Scotiabank raised their price target on AST SpaceMobile from $7.40 to $12.90 and gave the stock a “sector outperform” rating in a research note on Thursday, May 30th. Deutsche Bank Aktiengesellschaft dropped their price target on AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Finally, UBS Group raised their price target on AST SpaceMobile from $7.00 to $13.00 and gave the stock a “buy” rating in a research note on Monday, June 10th.
Read Our Latest Stock Analysis on AST SpaceMobile
AST SpaceMobile Stock Up 2.3 %
AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last posted its quarterly earnings data 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 company had revenue of $0.50 million for the quarter, compared to analyst estimates of $3.00 million. As a group, equities analysts predict that AST SpaceMobile, Inc. will post -0.66 EPS for the current year.
Institutional Trading of AST SpaceMobile
Several hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. acquired a new position in AST SpaceMobile during the fourth quarter worth $65,000. Cantor Fitzgerald L. P. purchased a new position in AST SpaceMobile during the fourth quarter worth $66,000. Rathbones Group PLC purchased a new position in AST SpaceMobile during the fourth quarter worth $76,000. BNP Paribas purchased a new position in AST SpaceMobile during the first quarter worth $43,000. Finally, Principal Financial Group Inc. purchased a new position in AST SpaceMobile during the first quarter worth $45,000. 60.95% of the stock is owned by institutional investors and hedge funds.
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.
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