SG Americas Securities LLC Purchases 21,192 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

SG Americas Securities LLC boosted its holdings in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 246.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,802 shares of the company’s stock after purchasing an additional 21,192 shares during the quarter. SG Americas Securities LLC’s holdings in AST SpaceMobile were worth $678,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in AST SpaceMobile by 49.4% during the 4th quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company’s stock valued at $316,233,000 after buying an additional 4,955,941 shares during the period. T. Rowe Price Investment Management Inc. bought a new position in shares of AST SpaceMobile during the 4th quarter worth $59,523,000. Key Colony Management LLC boosted its position in AST SpaceMobile by 204.1% during the first quarter. Key Colony Management LLC now owns 596,000 shares of the company’s stock valued at $13,553,000 after purchasing an additional 400,000 shares in the last quarter. Bank of New York Mellon Corp raised its stake in AST SpaceMobile by 57.6% in the fourth quarter. Bank of New York Mellon Corp now owns 641,678 shares of the company’s stock valued at $13,539,000 after buying an additional 234,517 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in AST SpaceMobile by 7.0% during the fourth quarter. Geode Capital Management LLC now owns 3,496,825 shares of the company’s stock valued at $73,801,000 after acquiring an additional 229,759 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors.

AST SpaceMobile Stock Up 3.6%

Shares of NASDAQ ASTS opened at $45.94 on Friday. The business has a 50-day moving average price of $27.77 and a 200 day moving average price of $25.74. The company has a quick ratio of 10.62, a current ratio of 10.62 and a debt-to-equity ratio of 0.60. The stock has a market cap of $14.54 billion, a PE ratio of -23.09 and a beta of 2.02. AST SpaceMobile, Inc. has a 52-week low of $9.32 and a 52-week high of $48.94.

AST SpaceMobile (NASDAQ:ASTS) last issued its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The business had revenue of $0.72 million for the quarter, compared to analysts’ expectations of $3.85 million. AST SpaceMobile had a negative return on equity of 23.56% and a negative net margin of 7,033.22%. Equities research analysts forecast that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

ASTS has been the topic of several research analyst reports. Oppenheimer initiated coverage on AST SpaceMobile in a report on Monday, May 5th. They issued a “market perform” rating on the stock. UBS Group lifted their price objective on AST SpaceMobile from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $30.00 target price on shares of AST SpaceMobile in a research report on Tuesday, March 4th. B. Riley restated a “buy” rating and issued a $44.00 target price (up previously from $36.00) on shares of AST SpaceMobile in a research report on Monday, June 16th. Finally, Roth Capital began coverage on AST SpaceMobile in a report on Thursday, April 10th. They issued a “buy” rating and a $42.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $43.73.

Insider Buying and Selling at AST SpaceMobile

In other AST SpaceMobile news, CTO Huiwen Yao sold 55,000 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $26.82, for a total transaction of $1,475,100.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Shanti B. Gupta sold 10,000 shares of the business’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $41.84, for a total value of $418,400.00. Following the completion of the transaction, the chief operating officer now owns 305,667 shares in the company, valued at approximately $12,789,107.28. This trade represents a 3.17% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 184,250 shares of company stock worth $6,146,750. 34.15% of the stock is owned by insiders.

AST SpaceMobile 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.