Wealth Enhancement Advisory Services LLC Has $759,000 Stock Position in AST SpaceMobile, Inc. $ASTS

Wealth Enhancement Advisory Services LLC grew its stake in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS) by 2.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,641 shares of the company’s stock after purchasing an additional 392 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in AST SpaceMobile were worth $759,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ASTS. Sunbelt Securities Inc. boosted its stake 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 acquiring an additional 505 shares during the period. GAMMA Investing LLC boosted its stake in shares of AST SpaceMobile by 388.7% during the 1st quarter. GAMMA Investing LLC now owns 1,559 shares of the company’s stock worth $35,000 after acquiring an additional 1,240 shares during the period. Financial Gravity Asset Management Inc. bought a new position in shares of AST SpaceMobile during the 1st quarter worth approximately $41,000. Close Asset Management Ltd boosted its stake in shares of AST SpaceMobile by 72.4% during the 1st quarter. Close Asset Management Ltd now owns 1,810 shares of the company’s stock worth $41,000 after acquiring an additional 760 shares during the period. Finally, UMB Bank n.a. bought a new position in shares of AST SpaceMobile during the 1st quarter worth approximately $45,000. Institutional investors and hedge funds own 60.95% of the company’s stock.

AST SpaceMobile Stock Performance

NASDAQ:ASTS opened at $67.76 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 8.23 and a current ratio of 8.23. AST SpaceMobile, Inc. has a fifty-two week low of $17.50 and a fifty-two week high of $68.80. The company has a market cap of $24.29 billion, a price-to-earnings ratio of -35.85 and a beta of 2.41. The stock has a fifty day moving average price of $48.21 and a 200-day moving average price of $38.18.

AST SpaceMobile (NASDAQ:ASTS) last posted its quarterly earnings results on Monday, August 11th. The company reported ($0.41) 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 for the quarter, compared to analyst estimates of $6.37 million. As a group, equities analysts anticipate that AST SpaceMobile, Inc. will post -0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Huiwen Yao sold 40,000 shares of the business’s stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total transaction of $1,623,200.00. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andrew Martin Johnson sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $52.48, for a total value of $1,049,600.00. Following the transaction, the chief financial officer directly owned 397,485 shares of the company’s stock, valued at $20,860,012.80. This trade represents a 4.79% decrease in their position. The disclosure for this sale can be found here. 34.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ASTS shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of AST SpaceMobile in a research note on Saturday, September 27th. UBS Group downgraded AST SpaceMobile from a “buy” rating to a “neutral” rating and reduced their price target for the company from $62.00 to $43.00 in a research note on Tuesday, September 9th. William Blair began coverage on AST SpaceMobile in a research note on Thursday, August 21st. They issued a “market perform” rating for the company. Roth Capital restated a “buy” rating on shares of AST SpaceMobile in a research note on Tuesday, August 12th. Finally, Zacks Research upgraded AST SpaceMobile from a “strong sell” rating to a “hold” rating in a research note on Monday, August 18th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $45.27.

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.