AST SpaceMobile Target of Unusually High Options Trading (NASDAQ:ASTS)

AST SpaceMobile, Inc. (NASDAQ:ASTS) was the recipient of some unusual options trading activity on Tuesday. Traders acquired 34,335 call options on the stock. This represents an increase of 100% compared to the average daily volume of 17,134 call options.

Wall Street Analyst Weigh In

ASTS has been the subject of several recent research reports. UBS Group raised their target price on shares of AST SpaceMobile from $7.00 to $13.00 and gave the company a “buy” rating in a report on Monday, June 10th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Finally, Scotiabank lifted their price target on shares of AST SpaceMobile from $7.40 to $12.90 and gave the stock a “sector outperform” rating in a report on Thursday, May 30th.

AST SpaceMobile Stock Performance

Shares of NASDAQ ASTS opened at $10.72 on Wednesday. The company has a market cap of $2.76 billion, a PE ratio of -10.94 and a beta of 1.61. AST SpaceMobile has a 12 month low of $1.97 and a 12 month high of $12.60. The company has a debt-to-equity ratio of 0.56, a current ratio of 7.51 and a quick ratio of 7.51. The company has a 50-day simple moving average of $6.60 and a 200-day simple moving average of $4.56.

AST SpaceMobile (NASDAQ:ASTS) last released its earnings results on Wednesday, May 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.02. The company had revenue of $0.50 million during the quarter, compared to analyst estimates of $3.00 million. On average, equities analysts anticipate that AST SpaceMobile will post -0.66 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. acquired a new position in AST SpaceMobile during the fourth quarter valued at approximately $65,000. Cantor Fitzgerald L. P. acquired a new position in AST SpaceMobile during the fourth quarter valued at approximately $66,000. Rathbones Group PLC acquired a new position in AST SpaceMobile during the fourth quarter valued at approximately $76,000. BNP Paribas acquired a new position in AST SpaceMobile during the first quarter valued at approximately $43,000. Finally, Principal Financial Group Inc. acquired a new position in AST SpaceMobile during the first quarter valued at approximately $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.