AST SpaceMobile, Inc. (NASDAQ:ASTS – Get Rating) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 10,430,000 shares, a decrease of 8.6% from the August 15th total of 11,410,000 shares. Based on an average daily volume of 1,370,000 shares, the days-to-cover ratio is presently 7.6 days. Currently, 26.3% of the company’s stock are short sold.
Analysts Set New Price Targets
Separately, Deutsche Bank Aktiengesellschaft decreased their price target on AST SpaceMobile from $31.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, August 17th.
Institutional Trading of AST SpaceMobile
A number of institutional investors and hedge funds have recently modified their holdings of the business. UBS Group AG grew its holdings in AST SpaceMobile by 45.3% during 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 period. Raymond James & Associates bought a new position in AST SpaceMobile during the first quarter valued at $102,000. Millennium Management LLC bought a new position in AST SpaceMobile during the second quarter valued at $65,000. Virtu Financial LLC bought a new position in AST SpaceMobile during the first quarter valued at $132,000. Finally, Commonwealth Equity Services LLC grew its holdings in AST SpaceMobile by 21.4% during 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 period. 6.68% of the stock is owned by hedge funds and other institutional investors.
AST SpaceMobile Stock Performance
AST SpaceMobile (NASDAQ:ASTS – Get Rating) last issued its quarterly earnings results on Monday, August 15th. The company reported ($0.06) EPS for the quarter. The business had revenue of $7.26 million for the quarter. AST SpaceMobile had a negative net margin of 68.97% and a negative return on equity of 15.52%. As a group, sell-side analysts forecast that AST SpaceMobile will post -0.48 earnings per share for the current year.
About AST SpaceMobile
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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