8,856 Shares in AST SpaceMobile, Inc. (NASDAQ:ASTS) Acquired by Flagship Private Wealth LLC

Flagship Private Wealth LLC acquired a new position in shares of AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 8,856 shares of the company's stock, valued at approximately $201,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of AST SpaceMobile by 49.4% in the fourth quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock valued at $316,233,000 after buying an additional 4,955,941 shares in the last quarter. Geode Capital Management LLC lifted its holdings in AST SpaceMobile by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 3,496,825 shares of the company's stock worth $73,801,000 after buying an additional 229,759 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in shares of AST SpaceMobile in the 4th quarter valued at about $59,523,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of AST SpaceMobile by 11.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock valued at $26,728,000 after purchasing an additional 135,008 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of AST SpaceMobile by 8.8% in the 4th quarter. Northern Trust Corp now owns 1,233,056 shares of the company's stock valued at $26,017,000 after purchasing an additional 100,153 shares during the last quarter. Institutional investors and hedge funds own 60.95% of the company's stock.

Insiders Place Their Bets

In other news, CTO Huiwen Yao sold 55,000 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $26.82, for a total transaction of $1,475,100.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Julio A. Torres sold 20,000 shares of AST SpaceMobile stock in a transaction on Monday, March 10th. The shares were sold at an average price of $30.73, for a total transaction of $614,600.00. Following the completion of the sale, the director now directly owns 52,628 shares of the company's stock, valued at approximately $1,617,258.44. The trade was a 27.54% decrease in their position. The disclosure for this sale can be found here. 34.15% of the stock is currently owned by company insiders.

AST SpaceMobile Stock Performance

Shares of NASDAQ ASTS opened at $31.19 on Friday. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.31. The firm's 50-day moving average price is $24.21 and its two-hundred day moving average price is $24.63. AST SpaceMobile, Inc. has a 52-week low of $8.09 and a 52-week high of $39.08. The stock has a market capitalization of $9.87 billion, a P/E ratio of -14.71 and a beta of 2.02.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.03). The firm had revenue of $0.72 million during the quarter, compared to the consensus estimate of $3.85 million. As a group, sell-side analysts forecast that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Scotiabank reduced their price objective on AST SpaceMobile from $47.90 to $45.40 and set a "sector outperform" rating for the company in a research note on Tuesday, May 13th. Cantor Fitzgerald reiterated an "overweight" rating and set a $30.00 target price on shares of AST SpaceMobile in a research report on Tuesday, March 4th. Oppenheimer initiated coverage on AST SpaceMobile in a report on Monday, May 5th. They issued a "market perform" rating on the stock. UBS Group increased their target price on AST SpaceMobile from $31.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Finally, Roth Capital started coverage on AST SpaceMobile in a report on Thursday, April 10th. They set a "buy" rating and a $42.00 target price on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $42.40.

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.

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