AST SpaceMobile (NASDAQ:ASTS) Shares Up 6.4% Following Analyst Upgrade

Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) were up 6.4% during mid-day trading on Tuesday after UBS Group raised their price target on the stock from $7.00 to $13.00. UBS Group currently has a buy rating on the stock. AST SpaceMobile traded as high as $9.20 and last traded at $9.02. Approximately 2,808,609 shares were traded during mid-day trading, a decline of 60% from the average daily volume of 7,061,806 shares. The stock had previously closed at $8.48.

A number of other equities analysts also recently issued reports on ASTS. Deutsche Bank Aktiengesellschaft decreased their price objective on AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. Scotiabank lifted their target price on shares of AST SpaceMobile from $7.40 to $12.90 and gave the company a “sector outperform” rating in a report on Thursday, May 30th.

Hedge Funds Weigh In On AST SpaceMobile

Large investors have recently modified their holdings of the stock. Janus Henderson Group PLC increased its stake in AST SpaceMobile by 209.9% during the 1st quarter. Janus Henderson Group PLC now owns 7,450,467 shares of the company’s stock valued at $21,606,000 after purchasing an additional 5,046,667 shares in the last quarter. Vanguard Group Inc. raised its holdings in AST SpaceMobile by 49.9% in the 1st quarter. Vanguard Group Inc. now owns 6,663,760 shares of the company’s stock worth $19,325,000 after acquiring an additional 2,217,531 shares during the last quarter. Broad Run Investment Management LLC raised its holdings in AST SpaceMobile by 74.8% in the 4th quarter. Broad Run Investment Management LLC now owns 3,962,853 shares of the company’s stock worth $23,896,000 after acquiring an additional 1,695,805 shares during the last quarter. Masters Capital Management LLC bought a new position in AST SpaceMobile in the 1st quarter valued at approximately $2,900,000. Finally, Hudson Bay Capital Management LP boosted its stake in AST SpaceMobile by 31.3% during the 3rd quarter. Hudson Bay Capital Management LP now owns 1,051,615 shares of the company’s stock valued at $3,996,000 after purchasing an additional 250,389 shares during the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Trading Up 6.8 %

The stock has a fifty day simple moving average of $3.83 and a 200 day simple moving average of $3.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 7.51 and a current ratio of 7.51. The firm has a market cap of $2.33 billion, a P/E ratio of -9.19 and a beta of 1.54.

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

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.