Asset Management One Co. Ltd. Buys Shares of 7,116 AST SpaceMobile, Inc. (NASDAQ:ASTS)

Asset Management One Co. Ltd. bought a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,116 shares of the company's stock, valued at approximately $162,000.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its holdings in 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 buying an additional 1,240 shares in the last quarter. Summit Securities Group LLC bought a new stake in AST SpaceMobile during the 4th quarter worth approximately $37,000. Bernard Wealth Management Corp. acquired a new stake in shares of AST SpaceMobile during the fourth quarter worth $42,000. UMB Bank n.a. bought a new position in AST SpaceMobile during the 1st quarter worth about $45,000. Finally, ORG Partners LLC bought a new position in AST SpaceMobile during the 1st quarter worth about $48,000. 60.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, President Scott Wisniewski sold 50,000 shares of the business's stock in a transaction on 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 completion of the transaction, the president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Shanti B. Gupta sold 15,000 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $36.08, for a total value of $541,200.00. Following the sale, the chief operating officer owned 315,667 shares of the company's stock, valued at approximately $11,389,265.36. This trade represents a 4.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 184,250 shares of company stock worth $6,146,750 in the last ninety days. 34.15% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on ASTS. Bank of America began coverage on AST SpaceMobile in a research note on Wednesday, June 25th. They issued a "neutral" rating and a $55.00 price target for the company. Oppenheimer started coverage on AST SpaceMobile in a report on Monday, May 5th. They set a "market perform" rating for the company. 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 note on Monday, June 16th. Scotiabank restated a "sector perform" rating and set a $45.40 price objective on shares of AST SpaceMobile in a research note on Monday, June 23rd. Finally, Roth Capital started coverage on AST SpaceMobile in a research note on Thursday, April 10th. They issued a "buy" rating and a $42.00 price target on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $45.34.

AST SpaceMobile Stock Performance

Shares of ASTS stock traded up $0.17 during trading on Friday, hitting $45.88. The company's stock had a trading volume of 6,101,742 shares, compared to its average volume of 12,749,241. The business has a fifty day moving average of $32.44 and a 200-day moving average of $27.27. AST SpaceMobile, Inc. has a 52 week low of $10.98 and a 52 week high of $54.05. The company has a market cap of $14.52 billion, a PE ratio of -23.05 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 - Get Free Report) last posted 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). AST SpaceMobile had a negative return on equity of 23.56% and a negative net margin of 7,033.22%. The company had revenue of $0.72 million during the quarter, compared to the consensus estimate of $3.85 million. As a group, research analysts anticipate that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current 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.