Short Interest in AST SpaceMobile, Inc. (NASDAQ:ASTS) Grows By 14.2%

AST SpaceMobile, Inc. (NASDAQ:ASTS) saw a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 31,530,000 shares, a growth of 14.2% from the March 31st total of 27,620,000 shares. Based on an average daily trading volume, of 3,820,000 shares, the days-to-cover ratio is presently 8.3 days. Currently, 27.9% of the shares of the company are short sold.

Analyst Ratings Changes

A number of brokerages recently commented on ASTS. Scotiabank decreased their target price on AST SpaceMobile from $7.50 to $7.40 and set a “sector outperform” rating on the stock in a report on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft decreased their price objective on AST SpaceMobile from $23.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd. Finally, UBS Group initiated coverage on AST SpaceMobile in a research note on Friday, March 8th. They set a “buy” rating and a $7.00 price objective for the company.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. purchased a new stake in AST SpaceMobile during the 1st quarter valued at approximately $45,000. Summit Trail Advisors LLC purchased a new position in AST SpaceMobile during the first quarter valued at $47,000. Victory Capital Management Inc. bought a new stake in AST SpaceMobile in the 4th quarter valued at $65,000. Cantor Fitzgerald L. P. purchased a new stake in AST SpaceMobile in the 4th quarter worth $66,000. Finally, Rathbones Group PLC purchased a new stake in AST SpaceMobile in the 4th quarter worth $76,000. 60.95% of the stock is owned by hedge funds and other institutional investors.

AST SpaceMobile Price Performance

Shares of ASTS traded down $0.09 during trading hours on Tuesday, reaching $2.24. 886,987 shares of the stock traded hands, compared to its average volume of 4,181,413. The company has a market cap of $573.53 million, a P/E ratio of -2.16 and a beta of 0.87. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 0.28. The company’s 50-day moving average price is $2.68 and its two-hundred day moving average price is $3.65. AST SpaceMobile has a 52-week low of $1.97 and a 52-week high of $7.10.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings results on Monday, April 1st. The company reported ($0.35) EPS for the quarter. On average, analysts anticipate that AST SpaceMobile will post -0.62 earnings per share for the current 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.