BNP Paribas Financial Markets Acquires Shares of 154,674 AST SpaceMobile, Inc. (NASDAQ:ASTS)

BNP Paribas Financial Markets acquired a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 154,674 shares of the company's stock, valued at approximately $3,264,000. BNP Paribas Financial Markets owned approximately 0.05% of AST SpaceMobile at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Summit Securities Group LLC bought a new stake in AST SpaceMobile in the 4th quarter valued at about $37,000. Golden State Wealth Management LLC bought a new stake in shares of AST SpaceMobile during the 4th quarter worth about $46,000. CIBC Private Wealth Group LLC raised its position in shares of AST SpaceMobile by 106.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company's stock worth $53,000 after buying an additional 1,222 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of AST SpaceMobile during the 4th quarter worth about $67,000. Finally, SRS Capital Advisors Inc. raised its position in shares of AST SpaceMobile by 554.5% during the 4th quarter. SRS Capital Advisors Inc. now owns 3,482 shares of the company's stock worth $73,000 after buying an additional 2,950 shares in the last quarter. 60.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at AST SpaceMobile

In other news, Director Julio A. Torres sold 20,000 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $30.73, for a total transaction of $614,600.00. Following the transaction, the director now owns 52,628 shares of the company's stock, valued at approximately $1,617,258.44. This represents a 27.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 34.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ASTS shares. Cantor Fitzgerald restated an "overweight" rating and set a $30.00 price target on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Oppenheimer started coverage on shares of AST SpaceMobile in a research report on Monday, May 5th. They set a "market perform" rating on the stock. UBS Group boosted their price target on shares of AST SpaceMobile from $31.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. 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 price target on the stock. Finally, Scotiabank dropped their price target on shares of AST SpaceMobile from $47.90 to $45.40 and set a "sector outperform" rating on the stock in a research report on Tuesday, May 13th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $42.40.

AST SpaceMobile Price Performance

Shares of NASDAQ ASTS traded up $0.42 during midday trading on Friday, reaching $26.66. The company's stock had a trading volume of 15,672,146 shares, compared to its average volume of 12,577,361. AST SpaceMobile, Inc. has a one year low of $4.00 and a one year high of $39.08. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.31. The company has a market cap of $8.44 billion, a price-to-earnings ratio of -12.58 and a beta of 2.05. The company has a 50 day moving average price of $24.39 and a 200 day moving average price of $24.50.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.03). The business had revenue of $0.72 million during the quarter, compared to the consensus estimate of $3.85 million. On average, equities research analysts expect that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

About AST SpaceMobile

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.