Uncovering Institutional Buying In AST SpaceMobile Inc (NASDAQ: ASTS)

Currently, there are 122.80M common shares owned by the public and among those 100.73M shares have been available to trade.

The company’s stock has a 5-day price change of -4.71% and -57.44% over the past three months. ASTS shares are trading -56.38% year to date (YTD), with the 12-month market performance down to -58.58% lower. It has a 12-month low price of $2.59 and touched a high of $7.10 over the same period. ASTS has an average intraday trading volume of 4.47 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -11.51%, -14.34%, and -34.97% respectively.

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Institutional ownership of AST SpaceMobile Inc (NASDAQ: ASTS) shares accounts for 28.25% of the company’s 122.80M shares outstanding.

It has a market capitalization of $322.96M and a beta (3y monthly) value of 0.86. The earnings-per-share (ttm) stands at -$0.84. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.63% over the week and 6.48% over the month.

Analysts forecast that AST SpaceMobile Inc (ASTS) will achieve an EPS of -$0.23 for the current quarter, -$0.18 for the next quarter and -$0.79 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.26 while analysts give the company a high EPS estimate of -$0.21. Comparatively, EPS for the current quarter was -$0.14 a year ago. Earnings per share for the fiscal year are expected to increase by 22.36%, and 5.61% over the next financial year.

Looking at the support for the ASTS, a number of firms have released research notes about the stock. UBS stated their Buy rating for the stock in a research note on March 08, 2024, with the firm’s price target at $7. Scotiabank coverage for the AST SpaceMobile Inc (ASTS) stock in a research note released on March 06, 2024 offered a Sector Outperform rating with a price target of $7.50. B. Riley Securities was of a view on October 28, 2022 that the stock is Buy, while Barclays gave the stock Overweight rating on July 12, 2021, issuing a price target of $29. Deutsche Bank on their part issued Buy rating on June 30, 2021.

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