Wealth Enhancement Advisory Services LLC Buys 5,973 Shares of AST SpaceMobile, Inc. (NASDAQ:ASTS)

Wealth Enhancement Advisory Services LLC lifted its stake in AST SpaceMobile, Inc. (NASDAQ:ASTS) by 58.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,249 shares of the company’s stock after acquiring an additional 5,973 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in AST SpaceMobile were worth $370,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of AST SpaceMobile by 49.4% in the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company’s stock worth $316,233,000 after acquiring an additional 4,955,941 shares during the period. Geode Capital Management LLC grew 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 buying an additional 229,759 shares during the period. T. Rowe Price Investment Management Inc. bought a new stake in AST SpaceMobile during the fourth quarter valued at approximately $59,523,000. Charles Schwab Investment Management Inc. grew its position in AST SpaceMobile by 11.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company’s stock valued at $26,728,000 after buying an additional 135,008 shares during the period. Finally, Northern Trust Corp grew its position in AST SpaceMobile by 8.8% during the fourth quarter. Northern Trust Corp now owns 1,233,056 shares of the company’s stock valued at $26,017,000 after buying an additional 100,153 shares during the period. 60.95% of the stock is currently owned by institutional investors.

AST SpaceMobile Stock Performance

Shares of AST SpaceMobile stock opened at $45.88 on Monday. The firm has a market capitalization of $14.52 billion, a P/E ratio of -23.05 and a beta of 2.27. 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 company has a 50 day moving average price of $32.88 and a 200 day moving average price of $27.47. AST SpaceMobile, Inc. has a 52 week low of $11.41 and a 52 week high of $54.05.

AST SpaceMobile (NASDAQ:ASTS) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The company had revenue of $0.72 million during the quarter, compared to analysts’ expectations of $3.85 million. AST SpaceMobile had a negative net margin of 7,033.22% and a negative return on equity of 23.56%. Sell-side analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on ASTS shares. Roth Capital started coverage on shares of AST SpaceMobile in a research report on Thursday, April 10th. They set a “buy” rating and a $42.00 target price for the company. Bank of America assumed coverage on shares of AST SpaceMobile in a research report on Wednesday, June 25th. They set a “neutral” rating and a $55.00 target price for the company. Scotiabank reaffirmed a “sector perform” rating and set a $45.40 price target on shares of AST SpaceMobile in a report on Monday, June 23rd. Oppenheimer assumed coverage on shares of AST SpaceMobile in a report on Monday, May 5th. They set a “market perform” rating on the stock. Finally, B. Riley reaffirmed a “buy” rating and set a $44.00 price target (up previously from $36.00) on shares of AST SpaceMobile in a report on Monday, June 16th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $45.34.

Insider Transactions at AST SpaceMobile

In other news, COO Shanti B. Gupta sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $41.84, for a total transaction of $418,400.00. Following the sale, the chief operating officer owned 305,667 shares of the company’s stock, valued at $12,789,107.28. This trade represents a 3.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Scott Wisniewski sold 50,000 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $35.65, for a total value of $1,782,500.00. Following the transaction, the president owned 545,595 shares in the company, valued at $19,450,461.75. This trade represents a 8.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,250 shares of company stock valued at $6,146,750 in the last 90 days. 41.80% of the stock is currently owned by company insiders.

AST SpaceMobile Company 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.