According to Zacks, “AST SpaceMobile is building space-based cellular broadband network to operate directly with standard, unmodified mobile devices based on its extensive IP and patent portfolio. AST SpaceMobile, formerly known as New Providence Acquisition Corp., is based in Texas, United States. “
Separately, Deutsche Bank Aktiengesellschaft reduced their target price on shares of AST SpaceMobile from $32.00 to $31.00 in a report on Tuesday, May 24th.
AST SpaceMobile (NASDAQ:ASTS – Get Rating) last issued its earnings results on Thursday, March 31st. The company reported ($0.06) earnings per share for the quarter. The firm had revenue of $6.22 million during the quarter. AST SpaceMobile had a negative net margin of 214.60% and a negative return on equity of 20.08%. As a group, equities research analysts anticipate that AST SpaceMobile will post -0.59 EPS for the current year.
Large investors have recently modified their holdings of the stock. Salvus Wealth Management LLC increased its stake in AST SpaceMobile by 4.7% in the first quarter. Salvus Wealth Management LLC now owns 24,905 shares of the company’s stock valued at $249,000 after purchasing an additional 1,110 shares during the last quarter. UBS Group AG increased its stake in AST SpaceMobile by 45.3% in the first quarter. UBS Group AG now owns 4,222 shares of the company’s stock valued at $42,000 after purchasing an additional 1,316 shares during the last quarter. Royal Bank of Canada purchased a new position in AST SpaceMobile in the second quarter valued at approximately $27,000. Commonwealth Equity Services LLC increased its stake in AST SpaceMobile by 21.4% in the first quarter. Commonwealth Equity Services LLC now owns 14,242 shares of the company’s stock valued at $142,000 after purchasing an additional 2,511 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in AST SpaceMobile by 8.4% in the fourth quarter. Bank of America Corp DE now owns 38,667 shares of the company’s stock valued at $307,000 after purchasing an additional 2,993 shares during the last quarter. 24.84% of the stock is currently owned by hedge funds and other institutional investors.
About AST SpaceMobile (Get Rating)
AST SpaceMobile, Inc operates space-based cellular broadband network for mobile phones. Its SpaceMobile service provides mobile broadband services for users traveling in and out of areas without terrestrial mobile services on land, at sea, or in flight. The company is headquartered in Midland, Texas.
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