AST SpaceMobile (NASDAQ:ASTS) Stock Price Up 12.1%

AST SpaceMobile, Inc. (NASDAQ:ASTS - Get Free Report) shares traded up 12.1% on Tuesday . The company traded as high as $2.51 and last traded at $2.51. 654,016 shares were traded during trading, a decline of 83% from the average session volume of 3,918,701 shares. The stock had previously closed at $2.24.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lowered their target price on AST SpaceMobile from $23.00 to $19.00 and set a "buy" rating on the stock in a research report on Wednesday, April 3rd. Scotiabank cut their price objective on shares of AST SpaceMobile from $7.50 to $7.40 and set a "sector outperform" rating on the stock in a research note on Tuesday, April 2nd. Finally, UBS Group began coverage on shares of AST SpaceMobile in a research report on Friday, March 8th. They issued a "buy" rating and a $7.00 target price for the company.

AST SpaceMobile Stock Up 12.1 %

The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.31 and a current ratio of 2.31. The company has a market cap of $642.66 million, a P/E ratio of -2.39 and a beta of 0.93. The stock has a 50 day moving average price of $2.50 and a 200 day moving average price of $3.60.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its quarterly earnings results on Monday, April 1st. The company reported ($0.35) EPS for the quarter. Research analysts expect that AST SpaceMobile, Inc. will post -0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Victory Capital Management Inc. acquired a new stake in shares of AST SpaceMobile during the 4th quarter worth approximately $65,000. Cantor Fitzgerald L. P. acquired a new position in shares of AST SpaceMobile in the 4th quarter valued at $66,000. Rathbones Group PLC bought a new position in shares of AST SpaceMobile during the 4th quarter worth about $76,000. BNP Paribas acquired a new stake in shares of AST SpaceMobile during the 1st quarter valued at about $43,000. Finally, Principal Financial Group Inc. acquired a new position in AST SpaceMobile in the first quarter worth about $45,000. Institutional investors own 60.95% of the company's stock.

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.