AST SpaceMobile, Inc. (NASDAQ:ASTS) Shares Acquired by Xponance Inc.

Xponance Inc. lifted its position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 5.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,244 shares of the company’s stock after buying an additional 568 shares during the period. Xponance Inc.’s holdings in AST SpaceMobile were worth $233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the stock. Sunbelt Securities Inc. lifted its position in shares of AST SpaceMobile by 61.9% during the 1st quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company’s stock worth $30,000 after purchasing an additional 505 shares during the last quarter. KBC Group NV boosted its holdings in shares of AST SpaceMobile by 15.6% in the first quarter. KBC Group NV now owns 7,525 shares of the company’s stock valued at $171,000 after acquiring an additional 1,016 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings in shares of AST SpaceMobile by 106.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock valued at $53,000 after acquiring an additional 1,222 shares in the last quarter. GAMMA Investing LLC boosted its holdings in AST SpaceMobile by 388.7% during the first quarter. GAMMA Investing LLC now owns 1,559 shares of the company’s stock worth $35,000 after buying an additional 1,240 shares in the last quarter. Finally, Axxcess Wealth Management LLC boosted its holdings in AST SpaceMobile by 16.7% during the fourth quarter. Axxcess Wealth Management LLC now owns 10,562 shares of the company’s stock worth $223,000 after buying an additional 1,508 shares in the last quarter. Hedge funds and other institutional investors own 60.95% of the company’s stock.

AST SpaceMobile Trading Up 0.9%

Shares of AST SpaceMobile stock opened at $57.98 on Friday. The stock has a fifty day simple moving average of $37.74 and a 200 day simple moving average of $29.27. AST SpaceMobile, Inc. has a 12-month low of $12.37 and a 12-month high of $58.08. The company has a market capitalization of $18.35 billion, a P/E ratio of -29.14 and a beta of 2.27. The company has a current ratio of 10.62, a quick ratio of 10.62 and a debt-to-equity ratio of 0.60.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The firm had revenue of $0.72 million for 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%. On average, sell-side analysts anticipate that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Activity at AST SpaceMobile

In other news, President Scott Wisniewski sold 50,000 shares of the business’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $35.65, for a total value of $1,782,500.00. Following the transaction, the president directly owned 545,595 shares in the company, valued at $19,450,461.75. The trade was a 8.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Huiwen Yao sold 55,000 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $26.82, for a total value of $1,475,100.00. The disclosure for this sale can be found here. Insiders sold a total of 184,250 shares of company stock valued at $6,146,750 in the last 90 days. Corporate insiders own 34.15% of the company’s stock.

Analysts Set New Price Targets

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

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.