AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) traded up 5.2% on Friday . The company traded as high as $12.63 and last traded at $12.52. 2,333,191 shares changed hands during trading, a decline of 69% from the average session volume of 7,441,362 shares. The stock had previously closed at $11.90.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. UBS Group boosted their price target on AST SpaceMobile from $7.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Deutsche Bank Aktiengesellschaft reduced their price target on 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 raised their price objective 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.
Read Our Latest Analysis on ASTS
AST SpaceMobile Price Performance
AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last issued its quarterly earnings results on Wednesday, May 15th. The company reported ($0.16) earnings per share for the quarter, topping 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 forecast that AST SpaceMobile, Inc. will post -0.66 EPS for the current year.
Hedge Funds Weigh In On AST SpaceMobile
Several institutional investors have recently bought and sold shares of ASTS. BNP Paribas purchased a new stake in AST SpaceMobile during the first quarter valued at approximately $43,000. Principal Financial Group Inc. bought a new stake in shares of AST SpaceMobile in the 1st quarter worth about $45,000. Summit Trail Advisors LLC purchased a new position in shares of AST SpaceMobile during the 1st quarter worth about $47,000. Victory Capital Management Inc. bought a new position in AST SpaceMobile during the 4th quarter valued at about $65,000. Finally, Cantor Fitzgerald L. P. purchased a new stake in AST SpaceMobile in the 4th quarter worth about $66,000. Institutional investors 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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