6,134 Shares in AST SpaceMobile, Inc. $ASTS Acquired by Signal Advisors Wealth LLC

Signal Advisors Wealth LLC purchased a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,134 shares of the company’s stock, valued at approximately $287,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ASTS. Sunbelt Securities Inc. grew its stake in shares of AST SpaceMobile by 61.9% in the 1st quarter. Sunbelt Securities Inc. now owns 1,321 shares of the company’s stock worth $30,000 after buying an additional 505 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of AST SpaceMobile by 388.7% in the 1st quarter. GAMMA Investing LLC now owns 1,559 shares of the company’s stock worth $35,000 after buying an additional 1,240 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in shares of AST SpaceMobile in the 1st quarter worth approximately $41,000. Close Asset Management Ltd lifted its position in AST SpaceMobile by 72.4% in the 1st quarter. Close Asset Management Ltd now owns 1,810 shares of the company’s stock valued at $41,000 after acquiring an additional 760 shares in the last quarter. Finally, Bernard Wealth Management Corp. bought a new position in AST SpaceMobile in the 4th quarter valued at approximately $42,000. Hedge funds and other institutional investors own 60.95% of the company’s stock.

Analyst Ratings Changes

ASTS has been the topic of several analyst reports. B. Riley reaffirmed a “buy” rating and issued a $44.00 price objective (up from $36.00) on shares of AST SpaceMobile in a research report on Monday, June 16th. Bank of America initiated coverage on AST SpaceMobile in a research report on Wednesday, June 25th. They issued a “neutral” rating and a $55.00 price objective on the stock. Roth Capital reaffirmed a “buy” rating on shares of AST SpaceMobile in a research report on Tuesday, August 12th. Scotiabank lowered their price objective on AST SpaceMobile from $45.40 to $42.90 and set a “sector perform” rating on the stock in a research report on Thursday, August 7th. Finally, William Blair initiated coverage on AST SpaceMobile in a research report on Thursday, August 21st. They issued a “market perform” rating on the stock. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, AST SpaceMobile presently has an average rating of “Hold” and an average price target of $42.82.

AST SpaceMobile Trading Up 8.8%

Shares of ASTS stock opened at $45.10 on Friday. AST SpaceMobile, Inc. has a 52-week low of $17.50 and a 52-week high of $60.95. The company has a debt-to-equity ratio of 0.42, a quick ratio of 8.23 and a current ratio of 8.23. The firm has a market capitalization of $16.17 billion, a PE ratio of -23.86 and a beta of 2.43. The stock has a fifty day simple moving average of $48.38 and a two-hundred day simple moving average of $36.46.

AST SpaceMobile (NASDAQ:ASTS) last issued its quarterly earnings results on Monday, August 11th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.22). AST SpaceMobile had a negative return on equity of 26.81% and a negative net margin of 7,213.90%.The business had revenue of $1.16 million during the quarter, compared to analysts’ expectations of $6.37 million. On average, analysts predict that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Insider Transactions at AST SpaceMobile

In other news, CFO Andrew Martin Johnson sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $52.48, for a total transaction of $1,049,600.00. Following the completion of the transaction, the chief financial officer owned 397,485 shares in the company, valued at $20,860,012.80. This trade represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Huiwen Yao sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $40.58, for a total value of $1,623,200.00. Following the transaction, the chief technology officer owned 4,750 shares of the company’s stock, valued at approximately $192,755. The trade was a 89.39% decrease in their position. The disclosure for this sale can be found here. Company insiders own 34.15% of the company’s stock.

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.