Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Free Report) traded up 3% during trading on Tuesday . The company traded as high as $20.57 and last traded at $20.33. 2,715,359 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 8,029,131 shares. The stock had previously closed at $19.73.
Analysts Set New Price Targets
ASTS has been the topic of a number of recent research reports. UBS Group raised their price target on shares of AST SpaceMobile from $7.00 to $13.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Scotiabank raised their price target on shares of AST SpaceMobile from $7.40 to $12.90 and gave the stock a “sector outperform” rating in a research report on Thursday, May 30th.
Check Out Our Latest Stock Analysis on AST SpaceMobile
AST SpaceMobile Trading Up 6.2 %
AST SpaceMobile (NASDAQ:ASTS – Get Free Report) last released its earnings results on Wednesday, May 15th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate 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. As a group, equities research analysts forecast that AST SpaceMobile, Inc. will post -0.65 EPS for the current fiscal year.
Institutional Investors Weigh In On AST SpaceMobile
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. grew its holdings in shares of AST SpaceMobile by 5.5% during the 2nd quarter. Victory Capital Management Inc. now owns 15,542 shares of the company’s stock valued at $180,000 after purchasing an additional 814 shares during the last quarter. Accordant Advisory Group Inc grew its holdings in shares of AST SpaceMobile by 2.0% during the 2nd quarter. Accordant Advisory Group Inc now owns 162,823 shares of the company’s stock valued at $1,890,000 after purchasing an additional 3,146 shares during the last quarter. MBE Wealth Management LLC grew its holdings in shares of AST SpaceMobile by 34.1% during the 2nd quarter. MBE Wealth Management LLC now owns 27,000 shares of the company’s stock valued at $313,000 after purchasing an additional 6,870 shares during the last quarter. Cantor Fitzgerald L. P. bought a new stake in shares of AST SpaceMobile during the 4th quarter valued at approximately $66,000. Finally, Calton & Associates Inc. bought a new stake in shares of AST SpaceMobile during the 2nd quarter valued at approximately $128,000. 60.95% of the stock is owned by institutional investors.
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.
Recommended Stories
- Five stocks we like better than AST SpaceMobile
- Stock Market Sectors: What Are They and How Many Are There?
- Buy On Holdings Stock Before the Market Catches Its Second Wind?
- What Are Growth Stocks and Investing in Them
- 3 High-Potential Stocks That Could Turn Into Multi-Baggers
- Why Are These Companies Considered Blue Chips?
- CEO Swap: Starbucks Surges 22% on Hiring New CEO From Chipotle
Receive News & Ratings for AST SpaceMobile Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AST SpaceMobile and related companies with MarketBeat.com's FREE daily email newsletter.