Signal Advisors Wealth LLC Purchases Shares of 6,134 AST SpaceMobile, Inc. $ASTS

Key Points

• Signal Advisors Wealth LLC acquired a new position in AST SpaceMobile, purchasing 6,134 shares valued at approximately $287,000 during the 2nd quarter.
• Analyst ratings for AST SpaceMobile show a consensus of "Hold" with an average price target of $42.82, while B. Riley released a "buy" rating with a new price target of $44.00.
• AST SpaceMobile's stock recently traded up by 8.8%, with a market cap of $16.17 billion and a 52-week high of $60.95.

Signal Advisors Wealth LLC acquired a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,134 shares of the company's stock, valued at approximately $287,000.

Several other large investors also recently modified their holdings of ASTS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of AST SpaceMobile by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,249 shares of the company's stock valued at $1,609,000 after purchasing an additional 2,953 shares in the last quarter. ProShare Advisors LLC increased its stake in AST SpaceMobile by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 37,728 shares of the company's stock worth $796,000 after purchasing an additional 12,400 shares in the last quarter. State of Wyoming increased its stake in AST SpaceMobile by 221.7% during the 4th quarter. State of Wyoming now owns 8,454 shares of the company's stock worth $178,000 after purchasing an additional 5,826 shares in the last quarter. Two Sigma Investments LP increased its stake in AST SpaceMobile by 117.5% during the 4th quarter. Two Sigma Investments LP now owns 51,874 shares of the company's stock worth $1,095,000 after purchasing an additional 28,025 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in AST SpaceMobile by 49.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 275,810 shares of the company's stock worth $5,820,000 after purchasing an additional 91,536 shares in the last quarter. 60.95% of the stock is currently owned by institutional investors.

Insider Activity at AST SpaceMobile

In other news, CTO Huiwen Yao sold 40,000 shares of the stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $40.58, for a total value of $1,623,200.00. Following the completion of the sale, the chief technology officer owned 4,750 shares of the company's stock, valued at approximately $192,755. This represents a 89.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Andrew Martin Johnson sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $52.48, for a total value of $1,049,600.00. Following the completion of the sale, the chief financial officer directly owned 397,485 shares of the company's stock, valued at approximately $20,860,012.80. The trade was a 4.79% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 41.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ASTS. UBS Group cut AST SpaceMobile from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $62.00 to $43.00 in a research note on Tuesday, September 9th. Scotiabank lowered their target price on AST SpaceMobile from $45.40 to $42.90 and set a "sector perform" rating for the company in a research note on Thursday, August 7th. Zacks Research raised AST SpaceMobile from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Roth Capital reissued a "buy" rating on shares of AST SpaceMobile in a research note on Tuesday, August 12th. Finally, Bank of America assumed coverage on AST SpaceMobile in a research report on Wednesday, June 25th. They set a "neutral" rating and a $55.00 price target for the company. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $42.82.

AST SpaceMobile Stock Up 14.1%

Shares of NASDAQ ASTS traded up $6.90 during trading hours on Tuesday, hitting $55.75. The company had a trading volume of 16,101,690 shares, compared to its average volume of 11,702,498. The stock has a market capitalization of $19.99 billion, a P/E ratio of -29.59 and a beta of 2.43. The company has a quick ratio of 8.23, a current ratio of 8.23 and a debt-to-equity ratio of 0.42. AST SpaceMobile, Inc. has a 1-year low of $17.50 and a 1-year high of $60.95. The firm's 50 day moving average is $48.40 and its 200-day moving average is $36.59.

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

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.