Asset Management One Co. Ltd. Makes New Investment in AST SpaceMobile, Inc. (NASDAQ:ASTS)

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

Several other institutional investors have also recently bought and sold shares of ASTS. Oppenheimer & Co. Inc. lifted its holdings in AST SpaceMobile by 4.1% during the 1st quarter. Oppenheimer & Co. Inc. now owns 888,654 shares of the company's stock worth $20,208,000 after buying an additional 34,591 shares during the period. Encompass Wealth Advisors LLC lifted its holdings in shares of AST SpaceMobile by 85.7% in the 1st quarter. Encompass Wealth Advisors LLC now owns 67,307 shares of the company's stock worth $1,531,000 after purchasing an additional 31,061 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of AST SpaceMobile by 49.5% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 58,479 shares of the company's stock valued at $1,330,000 after buying an additional 19,352 shares during the last quarter. MBE Wealth Management LLC raised its stake in shares of AST SpaceMobile by 11.5% in the first quarter. MBE Wealth Management LLC now owns 44,289 shares of the company's stock worth $1,007,000 after purchasing an additional 4,571 shares during the last quarter. Finally, ORG Partners LLC bought a new position in AST SpaceMobile during the 1st quarter valued at $48,000. Institutional investors and hedge funds own 60.95% of the company's stock.

Insider Activity at AST SpaceMobile

In other news, President Scott Wisniewski sold 50,000 shares of the company's stock in a transaction dated 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 sale, the president owned 545,595 shares in the company, valued at $19,450,461.75. This represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Shanti B. Gupta sold 10,000 shares of AST SpaceMobile stock in a transaction on Monday, June 16th. The shares were sold at an average price of $41.84, for a total transaction of $418,400.00. Following the completion of the transaction, the chief operating officer directly owned 305,667 shares of the company's stock, valued at $12,789,107.28. The trade was a 3.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold 184,250 shares of company stock valued at $6,146,750 over the last 90 days. Insiders own 34.15% of the company's stock.

AST SpaceMobile Price Performance

AST SpaceMobile stock traded up $0.60 during mid-day trading on Wednesday, reaching $45.71. 8,679,423 shares of the company's stock traded hands, compared to its average volume of 12,742,095. The company has a debt-to-equity ratio of 0.60, a current ratio of 10.62 and a quick ratio of 10.62. The stock has a 50 day moving average of $31.54 and a two-hundred day moving average of $26.99. AST SpaceMobile, Inc. has a 12-month low of $10.67 and a 12-month high of $54.05.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.03). AST SpaceMobile had a negative net margin of 7,033.22% and a negative return on equity of 23.56%. The company had revenue of $0.72 million for the quarter, compared to analysts' expectations of $3.85 million. As a group, equities research analysts predict that AST SpaceMobile, Inc. will post -0.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently commented on ASTS. B. Riley reaffirmed a "buy" rating and issued a $44.00 price target (up previously from $36.00) on shares of AST SpaceMobile in a report on Monday, June 16th. Oppenheimer began coverage on shares of AST SpaceMobile in a research note on Monday, May 5th. They set a "market perform" rating for the company. Roth Capital assumed coverage on shares of AST SpaceMobile in a research note on Thursday, April 10th. They issued a "buy" rating and a $42.00 price target for the company. Scotiabank reiterated a "sector perform" rating and set a $45.40 price target on shares of AST SpaceMobile in a research report on Monday, June 23rd. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $30.00 price objective on shares of AST SpaceMobile in a research note on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $45.34.

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.