Short Interest in AST SpaceMobile, Inc. (NASDAQ:ASTS) Rises By 11.6%

AST SpaceMobile, Inc. (NASDAQ:ASTS) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 18,500,000 shares, an increase of 11.6% from the August 15th total of 16,580,000 shares. Currently, 24.3% of the company’s shares are short sold. Based on an average daily trading volume, of 2,300,000 shares, the days-to-cover ratio is currently 8.0 days.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Vontobel Holding Ltd. purchased a new position in shares of AST SpaceMobile in the first quarter worth $294,000. Mirabella Financial Services LLP bought a new stake in AST SpaceMobile in the first quarter valued at $400,000. Diametric Capital LP bought a new stake in AST SpaceMobile in the fourth quarter valued at $169,000. LA Financiere DE L Echiquier boosted its holdings in AST SpaceMobile by 8.0% in the first quarter. LA Financiere DE L Echiquier now owns 134,500 shares of the company’s stock valued at $683,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in AST SpaceMobile by 75.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 38,609 shares of the company’s stock valued at $186,000 after acquiring an additional 16,577 shares in the last quarter. 54.53% of the stock is owned by hedge funds and other institutional investors.

AST SpaceMobile Trading Up 1.3 %

Shares of NASDAQ ASTS traded up $0.05 during mid-day trading on Monday, hitting $3.89. The stock had a trading volume of 436,912 shares, compared to its average volume of 1,977,606. The company has a debt-to-equity ratio of 0.01, a quick ratio of 7.22 and a current ratio of 7.22. AST SpaceMobile has a 1 year low of $3.55 and a 1 year high of $10.21. The business has a 50 day moving average price of $4.05 and a two-hundred day moving average price of $4.91. The firm has a market cap of $846.78 million, a P/E ratio of -4.92 and a beta of 0.59.

AST SpaceMobile (NASDAQ:ASTS) last issued its earnings results on Tuesday, August 15th. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.05). On average, equities analysts anticipate that AST SpaceMobile will post -0.87 EPS for the current fiscal year.

AST SpaceMobile Company Profile

AST SpaceMobile, Inc, together with its subsidiaries, operates space-based cellular broadband network for mobile phones in the United States. Its SpaceMobile service provides mobile broadband services to end-users who are out of terrestrial cellular coverage. AST SpaceMobile, Inc was founded in 2017 and is based in Midland, Texas.