AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) shares shot up 0.7% during trading on Thursday . The company traded as high as $11.84 and last traded at $11.31. 3,161,383 shares were traded during trading, a decline of 57% from the average session volume of 7,409,800 shares. The stock had previously closed at $11.23.
Analyst Ratings Changes
ASTS has been the subject of a number of recent research reports. UBS Group increased their target price on AST SpaceMobile from $7.00 to $13.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. Finally, Scotiabank upped their target price on shares of AST SpaceMobile from $7.40 to $12.90 and gave the company a “sector outperform” rating in a research note on Thursday, May 30th.
Get Our Latest Report on AST SpaceMobile
AST SpaceMobile Price Performance
AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last released its earnings results on Wednesday, May 15th. The company reported ($0.16) 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 analysts’ expectations of $3.00 million. Sell-side analysts anticipate that AST SpaceMobile, Inc. will post -0.66 earnings per share for the current year.
Institutional Trading of AST SpaceMobile
Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas acquired a new position in AST SpaceMobile in the first quarter valued at approximately $43,000. Principal Financial Group Inc. acquired a new position in AST SpaceMobile during the 1st quarter valued at approximately $45,000. Summit Trail Advisors LLC bought a new position in AST SpaceMobile during the 1st quarter worth $47,000. Victory Capital Management Inc. acquired a new stake in AST SpaceMobile in the fourth quarter worth $65,000. Finally, Cantor Fitzgerald L. P. bought a new stake in AST SpaceMobile in the fourth quarter valued at $66,000. Institutional investors and hedge funds 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.
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