AST SpaceMobile (NASDAQ:ASTS) Shares Gap Down to $13.01

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $13.01, but opened at $12.60. AST SpaceMobile shares last traded at $12.79, with a volume of 479,827 shares trading hands.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ASTS. Deutsche Bank Aktiengesellschaft reduced their price target 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. Scotiabank lifted their price objective 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. Finally, UBS Group lifted their price objective on shares of AST SpaceMobile from $7.00 to $13.00 and gave the stock a “buy” rating in a report on Monday, June 10th.

AST SpaceMobile Stock Up 2.4 %

The stock has a 50 day moving average of $8.16 and a 200-day moving average of $4.91. The firm has a market capitalization of $3.43 billion, a P/E ratio of -13.42 and a beta of 1.61. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.51 and a current ratio of 7.51.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings data on Wednesday, May 15th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.02. The firm had revenue of $0.50 million during the quarter, compared to the consensus estimate of $3.00 million. Research analysts predict that AST SpaceMobile, Inc. will post -0.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AST SpaceMobile

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of AST SpaceMobile during the second quarter worth about $334,000. Janus Henderson Group PLC grew its holdings in shares of AST SpaceMobile by 209.9% during 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 in the last quarter. Black Maple Capital Management LP purchased a new stake in AST SpaceMobile in the first quarter worth approximately $87,000. Masters Capital Management LLC purchased a new stake in AST SpaceMobile in the first quarter worth approximately $2,900,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in AST SpaceMobile by 71.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 55,335 shares of the company’s stock worth $161,000 after buying an additional 22,987 shares in the last quarter. 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.